_Cropped_0_1713343618.jpg)
Ford drives hike in car production in Romania
1 day ago
The Latvian economy grew a seasonally adjusted 1.3% y/y in the first quarter, a flash reading from the Central Statistical Bureau (CSB) showed on April 29. Economic growth slowed in comparison to the 2.2% expansion reported for October-December, and was lower than any quarter last year.
However, analysts remain calm, forecasting acceleration through the year. On a quarterly basis GDP contracted 0.1%.
The disappointing result came despite 2.9% growth in transportation and storage and a 2.3% expansion in the retail sector. Manufacturing contributed with a 0.5% expansion. However, those gains were offset by a considerable dip in the construction sector, which contracted as much as 22%, according to the CSB. Seasonally unadjusted, growth came in at 1.8%.
Despite the weakness in the first quarter, the Latvian economy is forecast to accelerate to growth of 3.3% in 2016, benefiting from a rising contribution from exports and investment, according to Swedbank analysts. Strong wage growth, low inflation, new lending growth, and stable optimism should continue to drive household consumption, a major pillar of growth.
Related Content
Data
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
Most Read
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
2 days ago
-
COMMENT: Armenia's decisive turn towards the West
1 day ago
-
US senators seek closer ties with Western Balkans to combat Russia's 'malign influence'
1 day ago
-
Remittances come to the rescue of Lebanon’s battered economy
1 day ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
2 days ago
-
Iran vs Israel: Who is better equipped for war?
5 days ago
-
Saudi Arabia to scale back plans for Neom city
9 days ago
-
BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
5 days ago
-
PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
7 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
Russia could pay off its entire external debt tomorrow, in cash
20 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
24 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
UBN: Russia could take the Baltic states in 48 hours
29 days ago
-
BRICS announce a blockchain-based payment system to create a common currency
22 days ago