Latvian GDP Logs Modest Expansion In Q2

(RTTNews) - Latvia's economy expanded for the second straight quarter in the three months ending June, though slightly, preliminary data from the statistical office showed on Monday.

Gross domestic product rose a non-adjusted 0.1 percent year-on-year in the second quarter, the same as in the first quarter. In the final quarter of 2023, the economy shrank 0.5 percent.

On a seasonally and calendar-adjusted basis, GDP fell 0.4 percent in the June quarter, reversing a 0.8 percent rebound in the March quarter.

During the second quarter, GDP was affected by a decline in manufacturing sectors by 1.2 percent and in service sectors by 0.2 percent, the agency said.

On a quarterly basis, the seasonally and calendar-adjusted GDP contracted 1.1 percent in the second quarter after rising 0.8 percent in the previous quarter.

The detailed data for the second quarter will be published on August 30.