Industrial production in Latvia increased at a sharply slower pace in December, data released by Statistics Latvia showed Friday. Industrial output increased a calendar adjusted 3.2 percent on an annual basis in December, markedly slower than the 8.5 percent growth seen in November.
Manufacturing output grew at a sharply slower pace of 9.6 percent in December than November's 12..1 percent, contributing to the slowdown. There was a 14.9 percent annual decrease in the production of electricity and gas. Production in the mining and quarrying industry surged 53.1 percent annually.
On a monthly basis, production decreased a seasonally adjusted 2.4 percent in December, reversing the previous month's 0.8 percent increase.
In the fourth quarter, industrial output increased a seasonally adjusted 0.5 percent sequentially, taking the annual growth to 5.6 percent. In the whole of 2011, production grew 8.9 percent from the previous year, the agency said.
by RTT Staff Writer
0.25% 
0.25%
1.00% 
1.00%
0.50% 
4.25%
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3.00%