Industrial production in Latvia increased at a sharply slower pace in December, data released by Statistics Latvia showed Friday.
Industrial output increased a calendar adjusted 3.2 percent on an annual basis in December, markedly slower than the 8.5 percent growth seen in November.
Manufacturing output grew at a sharply slower pace of 9.6 percent in December than November's 12..1 percent, contributing to the slowdown. There was a 14.9 percent annual decrease in the production of electricity and gas. Production in the mining and quarrying industry surged 53.1 percent annually.
On a monthly basis, production decreased a seasonally adjusted 2.4 percent in December, reversing the previous month's 0.8 percent increase.
In the fourth quarter, industrial output increased a seasonally adjusted 0.5 percent sequentially, taking the annual growth to 5.6 percent. In the whole of 2011, production grew 8.9 percent from the previous year, the agency said.
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