Latvian Industrial Output Growth Eases Sharply

(RTTNews) - Latvia's industrial production expanded at the weakest pace in four months in August, data from the Official Statistics Portal showed on Monday.

Industrial output rose a calendar-adjusted 2.4 percent year-on-year in August, much slower than the 9.8 percent growth in July. Production has been growing since April.

The annual production growth in manufacturing eased to 4.1 percent from 10.8 percent. Electricity and gas supply output rose only 0.5 percent, while the downturn in mining and quarrying output deepened to 23.9 percent from 18.4 percent.

On a monthly basis, industrial production decreased a seasonally adjusted 2.4 percent in August, reversing a 1.5 percent increase a month ago. It was the first decline in five months.