Tuesday, March 11, 2008

Latvia in recession?

It seems that q-o-q economic growth was negative in 4th quarter of 2007 according to the updated figures in Latvia. As Edward Hugh notes, the figures are not seasonally adjusted (as Latvian Statistical Office does not publish such data), but as the seasonality in the figures is not big it shouldn't matter much.
Estonia was 0,8% up in last quarter (seasonally adjusted), but as retail sales grew only 1% in January in real terms and construction has been slowing as well, there is a big chance that the economic growth will fall further in Estonia as well.

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