GDP growth slows in second quarter

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Revised figures released Tuesday by the national statistics office showed that Gross Domestic Product (GDP) grew more slowly in the second quarter than initial estimates had suggested.

According to seasonally non-adjusted data, compared to the second quarter of 2013, GDP at constant prices grew by 2.3%.

First estimates released in August had suggested a figure of 2.5%. 

GDP at current prices in the second quarter of 2014 was 5.9 bln euros.

According to seasonally adjusted data, compared to the 1st quarter of 2014, GDP rose by 0.9%.

The data mean that since the beginning of the year Latvia has fallen from first to third place among the Baltic states for quarterly GDP growth.

In the second quarter Lithuanian GDP grew 3.3% year on year and Estonian GDP bounced back strongly from 0.3% year on year in the first quarter of the year to 2.4% in the second.

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