Latvia: Economic growth moderates in Q3
October 30, 2015
Latvia’s economic growth moderated slightly in the third quarter, but it remains healthy. According to a preliminary estimate released by the National Statistics Office, GDP increased 2.5% in Q3 over the same period last year. The reading came in below the 2.7% expansion reported in Q2.
Although a detailed breakdown of data was not released with the preliminary estimate, the statistical office indicated that growth was supported by a 3.0% expansion in the industrial sector and growth of 2.0% in services.
A quarter-on-quarter comparison confirms the slowdown suggested by the annual data. GDP, when adjusted for seasonal factors, increased 0.4% in Q3, which came in well below the 1.2% expansion registered in Q2. More complete data will be published on 30 November.
Author: Ricardo Aceves, Senior Economist