Latvia Economic Outlook
March 3, 2020Growth slumped to an over three-year low in Q4 2019. This was mostly on the back of waning domestic demand as fixed investment contracted for the first time in three years and household spending growth slumped. Moreover, exports decelerated markedly in Q4, further weighing on the overall result. Turning to 2020, available data points to slightly healthier momentum in the first quarter. Economic sentiment edged up to an 11-month high and retail sales were upbeat in January, boding well for consumer demand at the outset of the year. External headwinds likely intensified, however, amid slowing global trade and the coronavirus fallout. Meanwhile, on 21 February, S&P Global Ratings upgraded Latvia’s credit rating to A+ from A, and kept a stable outlook, citing contained fiscal deficits and declining public debt.
Latvia Economic GrowthThe economy is expected to gain some steam this year. Upbeat household spending—supported by a tight labor market, rising wages and relatively low inflation—is set to lead the upturn, with healthy fixed investment growth further supporting domestic demand. A volatile external environment is a major risk to the outlook, however. FocusEconomics panelists see GDP growing 2.6% in 2020, which is down 0.2 percentage points from last month’s forecast, and 2.7% in 2021.
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|Bond Yield||0.55||0.0 %||Jun 30|
|Exchange Rate||1.12||0.65 %||Dec 31|
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Latvia Economic News
March 10, 2020
Industrial production dipped 4.5% in annual working-day adjusted terms in January, worsening from December’s 3.2% decrease.
March 9, 2020
Consumer ticked edged up 0.1% from the previous month in February, softening from January’s 0.4% increase.
February 28, 2020
The economy grew 1.0% in the fourth quarter of 2019, according to the second GDP estimate released by Latvia’s Statistical Institute on 28 February.
February 11, 2020
Consumer prices fell 0.4% from the previous month in January, on the heels of December’s 0.2% decrease.
February 3, 2020
Industrial production fell 3.2% in annual working-day adjusted terms in December, contrasting November’s marginal 0.1% uptick.