Latvia Industrial Production Grows In May

0 32

Latvia’s industrial production rose for the first time in three months in May, data from the Central Statistical Bureau showed on Monday.

Industrial production rose 4.9 percent month-on-month in May, after a 7.4 percent fall in April. This was the first increase in three months.

On a yearly basis, industrial production decreased 6.4 percent in May, following a 9.2 percent decline in the previous month.

Manufacturing output declined 7.4 percent annually in May.

Meanwhile, mining and quarrying output grew 0.6 percent and electricity and gas supply rose 0.3 percent.

In May, negative impact of COVID-19 was seen in manufacturing, as a result of which production orders and deliveries were decreased or cancelled, and, due to restrictions, volume of freight transportation reduced, which affected the availability of raw materials and production processes in enterprises, the agency said.


Leave A Reply

Your email address will not be published.