Latvian GDP growth slows to just 1% y/y in Q4

Latvian GDP growth slows to just 1% y/y in Q4
By bne IntelliNews February 1, 2020

The Latvian economy grew a seasonally and calendar-adjusted 1% y/y in the fourth quarter, a flash reading from the Central Statistical Bureau (CSB) showed on January 31.

The result shows a considerable slowdown in Latvian economic growth versus the adjusted growth of 1.8% y/y in the third quarter.

Unadjusted growth was not much more impressive at 1.1% y/y, 1.8pp below the unadjusted y/y expansion recorded in the preceding three months.

In quarterly terms, the economy inched up a seasonally and working-day adjusted 0.2% in October-December, compared to an expansion of 0.8% q/q in the third quarter.

The feeble growth in the final quarter of the year came on the back of a positive contribution from the retail trade sector. A slowdown in manufacturing dragged the economy down, the CSB noted.

Detailed data on GDP growth in October-December are due on February 28.