Latvia: Economic growth accelerates in Q2
According to a flash estimate released by the Statistical Institute on 30 July, the Latvian economy expanded 5.1% in the second quarter compared to the corresponding period last year, up from the first quarter’s revised 4.0% annual growth (previously reported: +4.3% year-on-year). The expansion in Q2 was once again underpinned by a burgeoning construction sector, which expanded nearly a third year-on-year. In the same period, retail trade rose 6.0%, while industrial production grew 2.0%.
In seasonally-adjusted quarter-on-quarter terms, the economy expanded 0.8%, decelerating from the previous quarter’s revised 1.5% increase (previously reported: +1.7% quarter-on-quarter).
A more detailed breakdown of the Q2 result will be released on 31 August.