Latvia Q3 Growth Accelerates More Than Estimated

(RTTNews) - The Latvian economy expanded at a faster pace in the September quarter, and the growth rate exceeded the preliminary estimates, revised data released by the Central Statistical Bureau revealed Monday.

Gross domestic product (GDP) increased a seasonally adjusted 1.3 percent in the third quarter from the preceding three-month period, when it recorded a 0.1 percent gain. The flash estimates were for a 1.2 percent sequential increase.

Year-on-year, unadjusted GDP advanced 4.5 percent in the September quarter, following the second quarter's 4.3 percent gain. The outcome marked an improvement from the 4.2 percent growth the government had predicted in its November report.

The annual growth was supported by a 5 percent rise in private final consumption and a 4.4 percent expansion in the gross fixed capital formation. Meanwhile, merchandise exports declined by 4.1 percent, and imports recorded a 0.7 percent fall.