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Latvian Industrial Output Growth Quickens In March

5/7/2012 6:13 AM ET

Industrial production in Latvia increased at a faster rate in March, helped mainly by a sharp gain in mining output, data released by Central Statistical Bureau showed Monday.

Industrial production increased a calendar adjusted 8.5 percent on an annual basis in March, faster than the 7.6 percent growth seen in February. In January, the rate of growth was 8.7 percent.

Production in the mining and quarrying sector climbed 28 percent annually, while manufacturing production advanced 15.4 percent. Meanwhile, there was a 10.2 percent annual decrease in the supply of electricity and gas during the month.

On a monthly basis, industrial output increased a seasonally adjusted 2 percent in March, after remaining unchanged in the previous month. In the three-months ended March, industrial production increased 8.3 percent from the corresponding period a year earlier.

by RTT Staff Writer

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