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- Flash comment: Latvia - February 9, 2012
Flash comment: Latvia - February 9, 2012
09-02-2012 14:11
GDP growth slowed in the fourth quarter of 2011
- According to the flash estimate by the Latvian Central Statistical Bureau, seasonally adjusted GDP increased by 0.8% in the fourth quarter of 2011 compared to the previous quarter. The quarterly growth decelerated from 1.4% in the third quarter of 2011.
- In annual terms, economic growth decelerated to 5% in the fourth quarter from 6.6% in the third quarter (not seasonally adjusted). Thus GDP increased by about 5.2% in 2011.
- Our GDP growth forecast is 2% for this year. Slower growth in the main trading-partner countries will cut into Latvian exports, uncertainty and stress in the financial markets will hurt investments, and weaker confidence will weigh on consumption.
