Latvia: Economy regains traction in Q4
January 30, 2017
According to a flash estimate from the Statistical Institute released on 30 January, Latvia’s economy picked up steam in the final quarter of last year, following a brief blip in Q3 which saw the country record its slowest growth in over six years. GDP rose 2.1% in Q4 compared to the same quarter of the prior year, a substantial improvement from the 0.3% figure registered in Q3. The economy grew 0.8% quarter-on-quarter in seasonally adjusted terms in the final three months of the year, the fastest pace since June 2015.
Q4’s results were underpinned by a strong 10.0% expansion in industry, while the service sector recorded more modest 1.0% growth and the construction sector continued to decline, albeit at a reduced pace, dropping 13.0%.
Author: Oliver Reynolds, Economist