Latvia Industrial Production Grows In May

Latvia's industrial production advanced in May, primarily driven by robust growth in manufacturing output, data from the Central Statistical Bureau showed on Monday.

Industrial production rose a calendar adjusted 5.3 percent year-on-year in May.

Manufacturing output registered an increase of 7.5 percent annually in May and that of mining and quarrying grew 0.7 percent.

Meanwhile, production in the electricity and gas supply segment fell sharply by 11.1 percent.

On a monthly basis, industrial production rose only a seasonally adjusted 0.2 percent in May.

During the first five months of this year, total industrial production expanded 4.2 percent compared with the corresponding period last year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating of loss more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV. The U.S. Food and Drug Administration announced the intended availability of base powder to make around 6 million bottles of specialty formula from Mexico as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall. Reckitt Nutrition/Mead Johnson Nutrition will send an initial shipment of 331 thousand pounds of base powder for PurAmino Hypoallergenic Formula. Shares of Deutsche Telekom AG were gaining more than 1 percent in the morning trading in Germany after the telecom major on Thursday raised its fiscal 2022 earnings outlook again, despite reporting lower profit in its second quarter. Adjusted EBITDA AL, a key earnings metric, increased, while adjusted EBITDA AL margin dropped.
Follow RTT