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Latvia's GDP growth in Q4 hit 1.9 pct y-on-y

Xinhua, January 31, 2015 Adjust font size:

Latvia's seasonally unadjusted gross domestic product (GDP) registered a year-on-year expansion of 1.9 percent in the fourth quarter of 2014, according to the flash estimate released by the national statistics office on Friday.

In the last quarter of 2014, Latvia's economic growth was driven by a 2 percent rise in trade and 3 percent increase in construction.

In the service sector, turnover remained virtually unchanged from the fourth quarter of 2013, and the manufacturing industry contracted by 2 percent, the statistics office said.

In comparison with the third quarter of 2014, Latvia's seasonally adjusted GDP grew 0.4 percent in the fourth quarter.

The statistics office is due to release updated and expanded fourth quarter data on Latvia's GDP on February 27.

During the last quarter of 2013, Latvia's seasonally unadjusted GDP grew 4.4 percent year-on-year. Enditem