Latvia’s Gross Domestic Product (GDP) experienced a slight uptick in the second quarter of 2024, with the latest data showing a 0.5% increase year-over-year. This represents a modest improvement from the previous quarter’s 0.1% rise, underscoring a gradual but steady economic recovery. The updated figures were officially released on August 30, 2024.This positive development comes after a period of economic stagnation, with Latvia’s GDP growth barely moving in the first quarter of the year. Analysts point out that this slight acceleration signals a cautiously optimistic outlook for the remainder of 2024. The year-over-year comparison provides a more accurate depiction of the economy’s trajectory, considering it evaluates the current month’s performance against the same month from the previous year.The uptick in GDP is attributed to various factors, including increased consumer spending and a rebound in the manufacturing sector. As Latvia continues to navigate economic challenges, stakeholders are keenly watching for further signs of stabilization and growth in the coming months.The material has been provided by InstaForex Company – www.instaforex.com
- U.S. Import Prices Dip Slightly More Than Expected In August - September 13, 2024
- Tenon Medical Prices $4.5 Mln Public Offering Of Shares, Pre-market Stock Soars Over 177% - September 13, 2024
- Kaixin: Nasdaq Panel Grants Temporary Exception To Bid Price Rule - September 13, 2024
