Increase in Industrial Output by 3% observed in February in Latvia
In February 2025, the industrial landscape presented a mixed picture, with some sectors experiencing growth while others faced declines.
According to recent data, the industrial production output in the repair and installation of machinery and equipment saw a significant increase of 10.6%. This positive trend was also observed in mining and quarrying, where an increase of 2.0% was recorded, and in electricity and gas supply, which rose by 2.5%.
However, the manufacture of fabricated metal products, except machinery and equipment experienced a decrease of 7.3%. This was counterbalanced somewhat by the robust growth in the manufacture of rubber and plastic products, which saw a remarkable increase of 35.6%.
The energy sector, pharmaceutical industry, and automotive industry were the manufacturing branches with the strongest revenue growth compared to February 2024, registering increases of 10.8%, 10%, and 4.9% respectively.
On the stock market today, turnover on the non-domestic market rose by 3.1% in the euro area, but fell by 2.4% on the domestic market. The non-euro area market also showed growth, with turnover rising by 2.5%.
February 2025 saw a 0.5% increase in manufacturing turnover compared to January 2025, as well as a 0.6% increase compared to February 2024 (calendar adjusted data at current prices). On the other hand, turnover on the Nasdaq composite fell by 0.3%.
The manufacturing sector as a whole experienced a 4.1% increase in industrial production output compared to February 2024. However, the manufacture of chemicals and chemical products saw a decrease of 24.0%. The production of food products, on the other hand, increased by 8.9%.
In the wood and cork industry, there was a modest increase of 0.8% in the production of products, excluding furniture.
These figures highlight the dynamic nature of the industrial sector, with various factors influencing its performance. As we move forward, it will be interesting to see how these trends continue to evolve.
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