Latvia: Economic growth edges up in Q1
According to a flash estimate released by the Statistical Institute on 2 May, the Latvian economy expanded 4.3% in the first quarter of 2018 compared to the corresponding period last year, ticking up from the previous quarter’s 4.2% growth. In seasonally-adjusted quarter-on-quarter terms, the economy expanded an impressive 1.7% in Q1, marking the strongest result since Q4 2016, and more than four times faster than growth in the previous quarter (Q4 2017: +0.4% quarter-on-quarter)
Growth in the quarter was underpinned by a booming construction sector, which expanded over a third in annual terms. Meanwhile, industrial production grew 3.0%, and retail trade rose 5.0% in annual terms in the same period.
A more detailed breakdown of the Q1 result will be released on 31 May.