Latvia's industrial output slows 1%

During the first nine months of 2014, Latvia's seasonally-adjusted industrial output slowed 1 percent in constant prices against the same period a year ago, the Latvian national statistics office said Monday.
The Latvian manufacturing industry showed a 0.5 percent annual growth in the first nine months of 2014, and output in mining and quarrying rose 4.1 percent, whereas an 8.1 percent drop was recorded in electric power and gas supply.
The steepest increase was recorded in manufacture of computers, electronic and optical equipment where output jumped 62.6 percent year-on-year in the first nine months of the year.
Latvia's largest manufacturing segments also increased output in annual terms, with wood processing showing an 8.1 percent growth, food production increasing 3.8 percent and manufacture of finished metal products (except machinery and equipment) growing 3.2 percent.
In comparison with the second quarter of 2014, Latvia's seasonally adjusted industrial output was up 1 percent in constant prices as manufacturing grew 0.9 percent and electric power and gas supply increased 3.9 percent, while output in mining and quarrying slowed 0.6 percent, the national statistics office said.