Manufacturing turnover witnessed 0.3% growth in July
Latest data compiled by the Central Statistical Bureau show that compared to June manufacturing turnover1 in July 2015 according to seasonally adjusted data (at current prices) increased by 0.3%. Turnover in export rose by 1.3% (of which in Eurozone – by 7%; while in Non-eurozone there was a drop of 4.1%). In turn, in domestic market turnover decreased by 0.5%.
Turnover growth was recorded in manufacture of furniture – of 5.2% (growth in domestic market, and drop in export), in manufacture of fabricated metal products, except machinery and equipment – of 4.6% (turnover growth in both markets), and in manufacture of computer, electronic and optical products – of 4.6% (turnover growth in both markets).
In turn, turnover drop as compared to the previous month was observed in manufacture of chemicals and chemical products – of 10.5%, in manufacture of motor vehicles, trailers and semi-trailers – of 9.9%, and in manufacture of rubber and plastic products – of 7.6%.
Compared to July 2014 manufacturing turnover in industry in July 2015 according to calendar adjusted data decreased by 0.2%, which was affected by drop of 3.8% in domestic market. Turnover in export rose by 4.7% (of which growth in Eurozone - of 28.9%, and drop in Non-eurozone - of 8.8%).
|Changes in turnover of selected manufacturing sectors in July 2015, as % of July 2014 (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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