Industrial production up on month, down on year in August

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Data compiled by the Central Statistical Bureau of Latvia (CSB) and published October 4 show that, compared to August 2021, in August 2022 industrial production output fell by 0.3 % (according to calendar adjusted data at constant prices). 

An output decline was recorded in manufacturing (of 2.6 %), while there were upturns in mining and quarrying (6.2 %) as well as electricity and gas supply (20.2 %, due to the higher volume of electricity produced by combined heat and power plants and gas supply to consumers).

In August an output reduction was registered in 13 out of 22 manufacturing sectors, two of which having the largest share in manufacturing – manufacture of wood and of products of wood and cork, except furniture, and manufacture of food products (of 8.8 % and 3.7 %, respectively).

Downturns, compared to the corresponding month of the previous year, were observed in manufacture of chemicals and chemical products (of 31.9 %), manufacture of machinery and equipment not elsewhere classified (21.5 %), and manufacture of computer, electronic and optical products (14.2 %).

Compared to July 2022, in August 2022 industrial production output grew by 0.6 % (according to seasonally adjusted data at constant prices). Of which, output in mining and quarrying went up by 5.7 % and in electricity and gas supply by 4.4 %, whereas in manufacturing there was a drop of 1 %.

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