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Financial News: Latvia Economic Growth Slows In Q4

Latvia Economic Growth Slows In Q4

01/31/2020 - 09:59:00 (RTTNews)

(RTTNews) - 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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