Latvian economy expands 5.5% y/y in Q4

Latvian economy expands 5.5% y/y in Q4
By bne IntelliNews February 3, 2019

The Latvian economy grew a seasonally adjusted 5.5% y/y in the fourth quarter, a flash reading from the Central Statistical Bureau (CSB) showed on January 30.

The result shows the Latvian economy maintained its adjusted annual growth rate seen in the third quarter. 

Adjusted growth in October-December came on the back of a 24% y/y expansion in construction, the CSB said. Industrial production also contributed with a growth of 2% y/y while services expanded 4% on the year.

Unadjusted growth came in at 5% y/y in the fourth quarter, adding 0.2pp to unadjusted y/y expansion recorded in the preceding quarter. 

In quarterly terms, the economy expanded a seasonally and working day adjusted 1.1%, compared to a growth of 1.8% q/q in the third quarter.

Detailed data on GDP growth in the fourth quarter are due on February 28.