Latvia’s industrial production declined for the fourth straight month in February, but at a slower pace than in the previous month, figures from the Central Statistical Office showed Thursday.
Industrial production fell a calender-adjusted 1.6 percent year-over-year in February, much slower than January’s 3.5 percent decrease. Production has been falling since November last year.
The decline of February was largely influenced by the electricity and gas supply production that plunged 11.5 percent from the previous year.
Meanwhile, production in the mining and quarrying sector advanced 6.7 percent annually in February and that for manufacturing sector grew by 1.6 percent.
Month-on-month, industrial production climbed a seasonally adjusted 1.5 percent in February, reversing a 3.1 percent fall in the preceding month. In December, production had risen 0.2 percent.
The material has been provided by InstaForex Company – www.instaforex.com