_Cropped_0_1713343618.jpg)
Ford drives hike in car production in Romania
5 days ago
Latvian retail sales grew a seasonally adjusted 2.3% y/y in January, slowing a little from the 3% expansion in January, data from the Central Statistical Bureau (CSB) showed on March 30.
The expansion was the third in a row, after a surprise contraction in November. In monthly terms, sales increased an adjusted 0.1%. Still, the continued expansion offers hope that consumption will remain a major driver of economic growth this year.
Driven by a tightening labour market and low inflation, Latvian household consumption helped prop up growth in 2015, as problems in Russia and the stuttering recovery in the EU limited export growth. That said, 2016 is yet to see retail sales expand at the same sort of rate seen before the November contraction.
The annual growth in February was driven by a 22.5% expansion in sales of information and communication equipment in specialised stores, followed by 16.4% annual growth in sales of cultural and recreation goods. Overall, sales of non-food products increased 1.4% on the year, while sales of food grew 3.7%.
With real incomes set to keep growing, retail sales look set for a good year. The average gross monthly wage in Latvia grew 7.4% y/y in the fourth quarter and 6.8% y/y across the whole of 2015, according to data from the CSB published on February 26.
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
-
COLLINGWOOD: Ukraine’s power blackout means a dark future
1 day ago
-
Armenia and Azerbaijan announce first border delimitation deal since the collapse of the USSR
1 day ago
-
Mysterious predator dubbed “Goat Sucker” causes panic in Iraq
1 day ago
-
UK’s Cameron addresses British “lack of seriousness” in Central Asia with five-day tour
14 hours ago
-
Don't mention the "D" word - Ukraine
3 days ago
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
5 days ago
-
Russia’s war economy boosted by rising oil prices
7 days ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
6 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
Iran vs Israel: Who is better equipped for war?
9 days ago
-
Russia could pay off its entire external debt tomorrow, in cash
23 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
28 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
BRICS announce a blockchain-based payment system to create a common currency
26 days ago
-
UBN: Russia could take the Baltic states in 48 hours
1 month ago