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Latvia Q3 GDP Expands Less Than Estimated




30.11.16 12:54
dpa-AFX


BRUSSELS (dpa-AFX) - Latvia's economy expanded for the second consecutive quarter in the three months ended September, though at a slower than estimated pace, latest figures from the Central Statistical Bureau showed Wednesday.


Gross domestic product rose a seasonally and working-day-adjusted 0.2 percent from the second quarter, when it advanced by 0.6 percent. In the flash report, the rate of growth for the third quarter was 0.5 percent.


On an annual basis, GDP climbed 0.3 percent in the third quarter instead of a 0.7 percent increase reported earlier. That was also slower than the 0.8 percent expansion in the previous quarter.


Without seasonal adjustment, annual economic growth moderated notably to 0.3 percent in the September quarter from 2.0 percent in the June quarter.


In an another report, the statistical office revealed that retail sales climbed at a slower pace of 0.2 percent yearly in October, following a 0.5 percent gain in the previous month.


Month-on-month, retail sales rose 0.6 percent from September, when it dropped by 0.8 percent.


Copyright RTT News/dpa-AFX



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