In an encouraging economic development, Latvia has reported a notable improvement in its retail sales metrics for July 2024. The retail sales indicator has seen an uptick, reducing the negative growth rate to -0.30% compared to -1.30% in June 2024, as per the latest data released on 29 August 2024.This positive shift indicates a growing consumer confidence and potential recovery in the Latvian retail sector. Year-over-Year comparison reveals that while the retail sales are still in the negative, the rate of decline has substantially slowed down from the previous month.The improvement in July follows a challenging period in June 2024, where the year-over-year comparison showed a significant dip in the retail sales index. With the current indicator almost neutral, optimism is rising that Latvian retail sales might stabilize or potentially achieve positive growth in the upcoming months.The material has been provided by InstaForex Company – www.instaforex.com
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