Latvia Economic Outlook
May 28, 2019
Latvia’s economy encountered significant headwinds at the beginning of this year, following a solid, domestic demand-led expansion at the end of last year. Annual growth plummeted to a two-and-a-half year low in the first quarter, according to preliminary estimates. The deceleration was chiefly driven by a significant downturn in investment activity growth amid feebler dynamics in the construction sector, as well as by near-stagnant industrial production, which was weighed on by contracting electricity, gas and heat supply. Turning to the current quarter, frail dynamics appear to have carried over from Q1. Economic confidence fell to a nine-month low in April, largely due to deteriorating sentiment in the industrial, construction and services sectors, which more than offset higher confidence in the retail trade sector.Latvia Economic Growth
Growth is seen losing pace this year, largely due to a deceleration in public spending and as fixed investment growth softens amid decelerating inflows of EU-linked cohesion funds. Nevertheless, solid wage growth and sustained consumer optimism should bolster private consumption, while exports are expected to remain resilient to external headwinds. FocusEconomics panelists see GDP growing 3.6% in 2019, which is up 0.1 percentage points from last month’s forecast, and 3.2% in 2020.Latvia Economy Data
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Latvia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.55 | 0.0 % | Jun 30 |
| Exchange Rate | 1.13 | 0.65 % | Jun 13 |
| Stock Market | 1,079 | 0.17 % | Jun 13 |
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Latvia Economic News
Latvia: Industrial output tumbles in April
June 4, 2019
Industrial output dipped 2.4% in working day-adjusted year-on-year terms in April, contrasting March’s 1.5% increase.
Latvia: Growth sinks to an over two-year low in Q1
May 31, 2019
A second reading of national accounts data revealed that the economy grew at a slightly faster pace than previously estimated in the first quarter of the year.
Latvia: Industrial output rebounds in March
May 7, 2019
Industrial output increased 1.5% in working day-adjusted year-on-year terms in March, contrasting February’s 3.2% fall, which had marked the worst result in over five years.
Latvia: Growth decelerates in Q1
April 30, 2019
Growth decelerated to 2.8% in year-on-year terms in the first quarter of the year, down sharply from the previous quarter’s 5.1% increase and marking the weakest expansion since Q3 2016.
Latvia: Inflation inches down in March
April 15, 2019
Consumer prices rose 1.1% from the previous month in March, accelerating sharply from February’s 0.1% increase.
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