Industrial production in Latvia increased 1.7 percent year-on-year in May of 2019, recovering from a 2.4 percent fall in the previous month. Output rebounded for electricity, gas, steam & air conditioning supply (2.8 percent from -22.6 percent in April) and went up at a softer pace for manufacturing (1.7 percent from 3.8 percent) while mining & quarrying production fell (-3.3 percent from 23 percent). On a seasonally adjusted monthly basis, industrial production jumped 2.1 percent, up from a downwardly revised 1.9 percent drop in April. Industrial Production in Latvia averaged 4.01 percent from 2001 until 2019, reaching an all time high of 23.30 percent in October of 2010 and a record low of -26.70 percent in February of 2009.
Industrial Production in Latvia is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Latvia to stand at 2.50 in 12 months time. In the long-term, the Latvia Industrial Production is projected to trend around 3.90 percent in 2020, according to our econometric models.