Manufacturing turnover grows by 0.2% in September
Latest data compiled by the Central Statistical Bureau show that compared to August, manufacturing turnover1 in September 2015 according to seasonally adjusted data (at current prices) increased by 0.2%. Growth of 1.2% was recorded in export, of which increase of 1.5% in Eurozone, and of 1.2% in Non-eurozone. In turn, in domestic market there was a decrease of 0.6%.
Compared to September 2014 manufacturing turnover in September 2015, according to calendar adjusted data, decreased by 3%. Drop was recorded both - in domestic market - of 4.8%, and in export - of 0.9% (of which in Non-eurozone - drop of 14.7%, while in Eurozone there was a growth of 26.5%).
As compared to the 2nd quarter of 2015 manufacturing turnover in the 3rd quarter of 2015, according to seasonally adjusted data decreased by 2.3%, of which by 0.9% in domestic market and by 3.8% in export (of which drop in Non-eurozone of 9.3%, while in Eurozone there was a growth of 4.2%).
Compared to the 3rd quarter of the previous year, in the 3rd quarter of 2015 manufacturing turnover, according to calendar adjusted data, decreased by 1.1%. In domestic market turnover declined by 3.4%, while in export there was a growth of 1.8% (of which in Eurozone - increase of 28.8%, while in Non-eurozone a drop of 12.1%).
Compared to the corresponding period of the previous year, during the first nine months of 2015 manufacturing turnover according to calendar adjusted data, decreased by 1.3%. There was a drop in domestic market of 5.3%; in turn, export witnessed growth of 3.8%, which was affected by growth in Eurozone of 24.4%; in turn, in Non-eurozone there was decline of 7.3%.
|Changes in turnover of selected manufacturing sectors in the first nine months of 2015, as % of the corresponding period of 2014 (as per cent, calendar adjusted data)|
Data source: Central Statistical Bureau of Latvia
More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production turnover indices is available in the CSB database section Industry.
1 Industrial Turnover Index characterises monthly changes in demand for industrial goods and services on the market. It is calculated as a non-deflated (at current prices, not excluding the effect of prices) weighted index, using industrial turnover in breakdown in domestic market and exports as the weights. Unlike industrial goods that also include unfinished goods and goods in stock, turnover only includes the goods sold and industrial services provided.
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