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Thursday, January 10, 2008

Industrial Output November 2007

Manufacturing output in Latvia fell again in November, according to data from Latvijas Statistikas. This is not good news.

The annual rate was less negative in November, but this can be due as much to a base effect as anything else.

According to seasonally adjusted data (seasonal and working day influence is taken into account) from the Central Statistical Bureau , when compared with October industrial production increased in November by 1% , of which there was a 0.6% rise in manufacturing. But output in electricity, gas and water supply gas decreased by 0.6%, and there was a decrease of 1.5% in mining and quarrying.

Compared to November 2006, in November 2007 total seasonally adjusted industrial output increased by 1.1%, of which output in electricity, gas and water supply increased by 17.7%, in mining and quarrying by 12.1%, while there was a decrease of 4.8% in manufacturing.

Compared to the November 2006, in November 2007 industrial output in manufacturing of food products and beverages decreased by 15.9%, of which in manufacture of other food products (bread, confectionery, sugar) – by 43.4% (it was greatly influenced by the discontinued production of sugar), in manufacture of grain mill products, starches and starch products – by 3.6%, in manufacture of dairy products – by 2.3%. Processing and preserving of fruit and vegetables, and manufacture of prepared animal feeds grew by 18.4%, processing and preserving of fish and fish products – by 11.1%, and the manufacture of beverages – by 6.6%.

Compared to November 2006, in November 2007 output increased in the following activities: in manufacturing of fabricated metal products, except machinery and equipment – by 35.6%, in manufacturing of rubber and plastic products – by 17.2%, in manufacture of pulp, paper and paper products – by 13.8%, in manufacturing of other transport equipment (repairing and construction of ships and boats) – by 3.1%, in manufacturing of basic metals – by 2.2%, in manufacturing of textiles – by 1.6%.

Compared to November 2006, in November 2007 the largest decrease in the industrial output was recorded in manufacture of radio, television and communication equipment and apparatus – by 30.1%, in tanning and dressing of leather; manufacture of footwear – by 29.1%, in recycling – by 23.4%, in manufacture of machinery and equipment – by 20.1%, in manufacturing of chemicals, chemical products and man-made fibres – by 11%.

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