FX.co ★ Latvia Industrial Output Shrinks 3.4%

Latvia's industrial production declined in November after recovering in the previous month, data from the Central Statistical Bureau showed on Wednesday.

Industrial production dropped a calendar-adjusted 3.4 percent year-on-year in November, reversing a 0.5 percent rise in October, which was the first increase in almost a year.

Mining and quarrying production declined the most by 9.7 percent, closely followed by electricity and gas supply by 9.6 percent. Production in the manufacturing sector dropped by 1.8 percent.

On a monthly basis, industrial production fell a seasonally adjusted 0.9 percent in December, in contrast to a 1.5 percent increase seen a month ago.