Latvia’s industrial production increased sharply in March, after falling in the previous four months, figures from the Central Statistical Office showed Tuesday.
Industrial production surged a calender-adjusted 8.7 percent year-over-year in March, reversing a 1.7 percent decline in February. It was the first climb in five months.
The latest rate of growth was the highest since December 2012, when production had risen 10.7 percent.
The growth in March was largely driven by the production of computer, electronic products and optical products that jumped 40.0 percent from the previous year.
Production in the manufacturing sector expanded 7.4 percent in March and mining and quarrying sector registered a growth of 8.7 percent.
On a monthly basis, industrial production rose a seasonally adjusted 10.9 percent in March, much faster than previous month’s 0.9 percent slight increase. It was the second month of rise in a row.
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