Latvia Economic Outlook
July 24, 2018Available indicators for Q2 signal that the expansion largely carried over from a period of solid growth in Q1. Private consumption appears to have remained robust in Q2, buttressed by tightening labor market conditions and despite slightly intensifying inflationary pressures. Solid wage growth, coupled with higher participation rates and a near one-decade low unemployment rate, propped up retail sales, which jumped to an almost three-year high in May. In addition, the external sector’s performance was solid in the first two months of Q2, led by healthy exports growth, which recovered from a slip to negative territory at the end of Q1 on strong demand from outside the EU. Meanwhile, industrial output contracted for the first time in nearly two years in May; nevertheless, the contraction is likely not representative of the sector’s underlying health, as weather factors led to lower electricity and gas supply this year.
Latvia Economic GrowthThe economy is expected to grow at a sturdy pace this year, with domestic demand in the driver’s seat on the back of strong household consumption growth and booming fixed investment. Nevertheless, a notable slowdown in financial sector activity and a worsening outlook for the external sector are projected to generate headwinds for growth, which is seen slowing this year. Met the why particular panelists see GDP increasing 3.7% in 2018, which is unchanged from last month’s forecast, and 3.4% in 2019.
Latvia Economy Data
5 years of Latvia economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.55||0.0 %||Jun 30|
|Exchange Rate||1.13||0.65 %||Aug 15|
|Stock Market||996||0.17 %||Aug 15|
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Latvia Economic News
August 3, 2018
Industrial production rose 0.4% in June from the same month last year, following the weakest performance in three years in May, when output contracted a revised 0.9% (previously reported: -1.1% year-on-year).
July 30, 2018
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).
July 16, 2018
Consumer prices rose 0.6% over the previous month in June, up from May’s 0.3% increase.
July 4, 2018
Industrial production declined 1.1% in May from the same month last year, falling to an over-three year low.
June 8, 2018
Consumer prices increased 0.3% from the previous month in May, accelerating marginally from April’s 0.2% increase.