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Monday, August 4, 2008

Latvia Industrial Output June 2008

Industrial output rebounded slightly in June over May, but was still considerably down year on year.

Compared to May 2008 industrial output at constant prices rose by in June by 1.2%, according to seasonally adjusted data (seasonal and working day influence was taken into account) from the Central Statistical Bureau. Of which in manufacturing there was an increase of 0.2%, in electricity, gas and water supply - of 4.9%, but in mining and quarrying the volume decreased by 6.7%. The increase of industrial output was mainly influenced by output growth in the manufacturing of basic metals - by 8.6%, in manufacture of non-metallic mineral products – by 4.9% and in manufacture of wood and of products of wood and cork – by 4%.



Compared to June of previous year in June 2008 industrial output was down by 6.4%, according to working day adjusted data. Of which in manufacturing – by 7.5%, in electricity, gas and water supply - by 1.8%, but in mining and quarrying there was an increase of 0.8%. The reduction of industrial output was influenced by volume decreases in: manufacturing of food products and beverages – by 10.9%, in manufacture of wood and of products of wood and cork – by 7.9%, and in manufacturing of furniture; manufacturing not classified otherwise – by 37.4%.

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