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Latvia: Industrial output growth reaches three-year high in May
Latest reading: Industrial output rose 4.0% in year-on-year terms in May, which was above April’s 1.9% increase. The figure marked the best reading since May 2022 and was primarily driven by pickups in manufacturing plus electricity and gas production.
On a seasonally adjusted monthly basis, factory output rose at a quicker rate of 1.4% in May (April: +0.8% mom s.a.). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 5.7% in May, up from April’s minus 6.0% reading.
