Flash Comment: Latvia - August 9, 2011
GDP showed vigorous growth in 2Q 2011
According to the flash estimate by Latvian Central Statistical Bureau, seasonally adjusted GDP increased by 2.2% QoQ in the second quarter of 2011. In annual terms, the economic growth picked up to 5.3% (not seasonally adjusted). The impact of recent developments in global financial markets on global and Latvian economic growth is still unclear, but it should not be underestimated. We maintain our GDP growth forecast at 4% for this year.