Home Economy Latvia Economic Growth Slows In Q4

Latvia Economic Growth Slows In Q4

by RTTNews Staff Writer

Latvia’s economic growth slowed in the final three months of 2019, after improving in the previous quarter, flash estimates from the Central Statistical Bureau showed on Friday.

Gross domestic product grew a non-adjusted 1.1 percent year-on-year after a 2.9 percent increase in the previous quarter.

Main upward pressure on the GDP was exerted by the 0.9 percent volume increase in services sectors that included a 1.7 percent growth in retail trade, the agency said. Manufacturing decreased slightly, while the amount of collected product taxes increased.

On a seasonally and calendar-adjusted basis, GDP rose 1 percent year-on-year following a 1.8 percent growth in the third quarter.

Compared to the previous three months, GDP grew an adjusted 0.2 percent in the fourth quarter after a 0.6 percent increase in the previous three months.

The statistical office is set to release the detail data on February 28.

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