Latvia: GDP growth slows in the first quarter of 2023
GDP growth slowed to 0.7% year on year in the first quarter of 2023 from 1.2% in the previous quarter, according to preliminary national accounts data released by the Statistical Institute on 27 April. Meanwhile, GDP expanded 0.5% in seasonally adjusted quarter-on-quarter terms in Q1, following the 1.2% reading clocked in the previous period.
The first quarter’s moderation was caused by reduced activity in producing sectors, while services grew 0.4%.
More detailed data will be released on 31 May.