Latvian Industrial Output Contracts 3.0%

(RTTNews) - Latvia's industrial production declined for the third straight month in November, data from the Central Statistical Bureau showed on Friday.

Industrial production dropped a calendar-adjusted 3.0 percent year-on-year in November, faster than the 2.0 percent fall in October.

Output produced in the electricity and gas supply segment alone plunged by 20.7 percent, which largely drove the overall downturn. On the other hand, mining and quarrying production surged 30.7 percent, and manufacturing output recovered somewhat by 0.3 percent.

On a monthly basis, industrial production fell a seasonally adjusted 0.3 percent in November, in contrast to a 0.5 percent increase seen a month ago.