Industrial production in Latvia increased at a markedly faster rate in May on strong manufacturing output, after decelerating in the previous month, data released by Statistics Latvia showed Wednesday.
Industrial output increased a calendar adjusted 6 percent annually in May, following the previous month's 3.8 percent gain. In March, the growth rate was 8.5 percent.
Production in the manufacturing sector advanced 7.3 percent year-on-year in May, while mining and quarrying production decreased 3.9 percent. There was a 2.4 percent annual rise in electricity and gas supply during the month, data showed.
Compared to April, when a 1.2 percent month-on-month contraction was recorded, industrial production rose a seasonally adjusted 1.9 percent in May, the agency said.
by RTT Staff Writer
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