Latvia Economic Outlook
May 28, 2019Latvia’s economy encountered significant headwinds at the beginning of this year, following a solid, domestic demand-led expansion at the end of last year. Annual growth plummeted to a two-and-a-half year low in the first quarter, according to preliminary estimates. The deceleration was chiefly driven by a significant downturn in investment activity growth amid feebler dynamics in the construction sector, as well as by near-stagnant industrial production, which was weighed on by contracting electricity, gas and heat supply. Turning to the current quarter, frail dynamics appear to have carried over from Q1. Economic confidence fell to a nine-month low in April, largely due to deteriorating sentiment in the industrial, construction and services sectors, which more than offset higher confidence in the retail trade sector.
Latvia Economic GrowthGrowth is seen losing pace this year, largely due to a deceleration in public spending and as fixed investment growth softens amid decelerating inflows of EU-linked cohesion funds. Nevertheless, solid wage growth and sustained consumer optimism should bolster private consumption, while exports are expected to remain resilient to external headwinds. Met the why particular panelists see GDP growing 3.6% in 2019, which is up 0.1 percentage points from last month’s forecast, and 3.2% in 2020.
Latvia Economy Data
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|Bond Yield||0.55||0.0 %||Jun 30|
|Exchange Rate||1.13||0.65 %||Jun 13|
|Stock Market||1,079||0.17 %||Jun 13|
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Latvia Economic News
June 4, 2019
Industrial output dipped 2.4% in working day-adjusted year-on-year terms in April, contrasting March’s 1.5% increase.
May 31, 2019
A second reading of national accounts data revealed that the economy grew at a slightly faster pace than previously estimated in the first quarter of the year.
May 7, 2019
Industrial output increased 1.5% in working day-adjusted year-on-year terms in March, contrasting February’s 3.2% fall, which had marked the worst result in over five years.
April 30, 2019
Growth decelerated to 2.8% in year-on-year terms in the first quarter of the year, down sharply from the previous quarter’s 5.1% increase and marking the weakest expansion since Q3 2016.
April 15, 2019
Consumer prices rose 1.1% from the previous month in March, accelerating sharply from February’s 0.1% increase.