GDP growth of Latvia slowed in the second quarter

In the second quarter, the economy of Latvia, adjusted for seasonal fluctuations and adjustments for working days, increased by 0.8% compared to the previous quarter, when growth was 1.5%, according to preliminary data from the Bureau for Central Statistics, wrote. Relative to the same period last year, GDP of Latvia grew by 4.2% after its growth of 4.8% in the first quarter. Excluding seasonal adjustment, economic growth in annual terms accelerated to 5.1% from 4%. According to another agency report, retail sales in Latvia increased in June by 5.9% in annual terms after the rise of 6.9% a month earlier. Compared to May, the indicator fell to 2.3% from 3.3%.

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