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Financial News: Latvia GDP Growth Eases In Q2

Latvia GDP Growth Eases In Q2

07/28/2022 - 08:25:00 (RTTNews)

(RTTNews) - Latvia's economic growth eased sharply in the second quarter, after improving strongly in the previous quarter, preliminary data from the statistical office showed on Thursday.

Gross domestic product expanded a non-adjusted 2.6 percent year-on-year in the June quarter, after a 6.7 percent rise in the March quarter.

On a seasonally and calendar-adjusted basis, GDP advanced 2.5 percent compared to last year, slower than the 6.4 percent increase in the first quarter.

On a quarterly basis, the economy contracted by a seasonally and calendar adjusted 1.4 percent from the first quarter, when it expanded 3.4 percent.

In the fourth quarter last year, GDP fell marginally by 0.1 percent.

Detailed data for the second quarter growth is set to be released on August 31.

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