Modest GDP growth in fourth quarter of 2019

A flash estimate issued by the Central Statistical Bureau (CSB) January 31 shows that, compared to the 4th quarter of 2018, in the 4th quarter of 2019 the gross domestic product (GDP) value increased by 1.1 % (seasonally and calendar non-adjusted data).

“[The] Main upward pressure on the GDP was exerted by the volume increase in services sectors (according to preliminary estimates – of 0.9 %), including rise of 1.7% in retail trade. Manufacturing shows slight decrease. Amount of collected product taxes has increased,” said the CSB.

Compared to the 3rd quarter of 2019, GDP rose by 0.2 % according to seasonally and calendar adjusted data.

LSM.LV

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