Latvia Q2 Economic Growth Improves

Latvia’s economic growth accelerated in the three months ended June, after easing slightly in the previous quarter, preliminary figures from the Central Bureau of Statistics showed Thursday.

Gross domestic product rose a seasonally adjusted 1.2 percent quarter-on-quarter in the second quarter, faster than first quarter’s 0.4 percent climb. In the fourth quarter last year, the rate of growth was 0.5 percent.

The latest rate of expansion was the fastest since the third quarter 2013, when the economy expanded 1.4 percent.

Annually, GDP grew a seasonally adjusted 2.6 percent in the June quarter versus 2.0 percent in the March quarter.

On an unadujsted basis, the economy expanded at a faster pace of 2.7 percent yearly in the second quarter, following a 1.9 percent hike in the preceding quarter.

The GDP increase was affected by growth in production sectors by 2.0 percent and in services sector, which excludes trade.

The material has been provided by InstaForex Company –