In the first quarter, GDP expanded 6.9% over the same quarter a year ago, according to revised data published by the statistical office on 8 June. The print was virtually unchanged from the 10 May 6.8% flash estimate and was well above the 5.7% increase observed in the fourth quarter. The first quarter reading represented, in fact, the fastest growth rate since the third quarter of 2007. The quarterly acceleration was primarily the result of faster growth in total consumption, which was driven by a strong expansion in private consumption (Q4 2011: +4.2% year-on-year; Q1 2012: +5.4% yoy). Moreover, government spending bounced back from a 1.1% contraction in Q4 2011 to a 1.8% expansion in Q1. Meanwhile, gross fixed investment surged 39.0% (Q4 2011: +26.0% yoy), the strongest expansion seen since records began. The external sector also improved in the first three-month period, with exports of goods and services increasing 9.9% (Q4 2011: +9.1% yoy). Imports grew 9.5% in Q1, slower than the 13.1% expansion recorded in Q4 2011. Consequently, the external sector
Economic growth accelerates in first quarter
June 8, 2012
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Latvia Economic News
October 10, 2016
In September, consumer prices increased 0.4% from the previous month, which contrasted August’s 0.6% decrease.
October 4, 2016
Industrial production in Latvia contracted 0.6% year-on-year in August, which contrasted the 2.6% increase in July.
September 8, 2016
In August, consumer prices fell 0.6% over the previous month and came in below July’s 0.3% decrease.
September 5, 2016
Industrial production in Latvia grew 2.7% year-on-year in July, which was down from 7.9% increase in June.
August 31, 2016
In the second quarter, Latvia’s economy increased 2.1% year-on-year, according to a revised set of data released by the Statistical Institute on 31 August.