In a significant turnaround, Latvia’s industrial production showed a positive change in July 2024, increasing by 0.9% after enduring a substantial decline of -2.5% in June 2024. This data update, released on September 3, 2024, marks a pivotal shift in the country’s industrial sector.The month-over-month comparison reveals that the Latvian industry managed to regain some momentum amidst a challenging economic environment. June’s figures indicated a sharp contraction, which had raised concerns about the resilience of the country’s industrial base. However, the July recovery suggests potential stabilization and signals improved industrial activity.Economic analysts are now closely watching whether this positive trend will continue, as sustained growth could signify a broader recovery for Latvia’s industrial sector. Further data and detailed analyses will be essential in understanding the underlying drivers behind July’s performance and the prospects for the months ahead.The material has been provided by InstaForex Company – www.instaforex.com
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