TITLE

Record Growth In Q2

PUB. DATE
November 2005
SOURCE
Emerging Europe Monitor: Central Europe & Baltic States;Nov2005, Vol. 12 Issue 11, p11
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The article reports that the annual growth rate of Latvia's economy reached an all-time high in the second quarter of 2005. Latvia's economy continued to outpace the rest of the EU in the second quarter, with real GDP growing by a blistering 11.6% year-on-year, up from 7.4% in quarter 1. The manufacturing industry bounded back in Q2, expanding by 7.8% year-on-year in real terms after contracting for the first time in five years in Q1 owing to the adverse impact of early-year storms on the important wood-processing sector. Central bank governor Ilmars Rimsevics warned in September that growth is overly dependent on domestic demand and is unlikely to be stable beyond the short term unless supplemented by an increase in foreign demand for manufactured goods.
ACCESSION #
18561496

 

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