GDP 2.4% in third quarter

Latvia's Gross Domestic Product (GDP) grew by a respectable 2.4 percent on the year in the third quarter of the year according to data published Friday by the Central Statistics Bureau (CSB). 

"In the 3rd quarter of 2014, compared to the 2nd quarter of 2014, gross domestic product at constant prices, according to seasonally adjusted data, grew by 0.5%, but, compared to the 3rd quarter of 2013, it has risen by 2.4%," the CSB said in a statement.

According to seasonally unadjusted data, compared to the 3rd quarter of 2013, the GDP in the 3rd quarter of 2014 grew by 2.4%.

Total GDP in the third quarter at current prices was €6.3 billion.

While manufacturing dropped by 0.6% compared to the same period a year ago, there were signs of a construction boom with construction of residential buildings increasing by 24.4% and construction of local pipelines and communication lines up by 50.1%.

In the third quarter of the year Estonia recorded GDP growth of 2.1% on the year with Lithuania posting 2.7% growth.

 

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