Latvia Retail Trade Jumps in March
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Latvia's retail sales surged by 2.8% year-on-year in March, after a revised 0.3% decrease in the prior month, data from the Central Statistical Bureau (CSB) showed on Monday.
It was the sharpest growth rate in retail activity since November 2022, boosted by sales of automotive fuel (+11.9%) and food (+5%).
On the other hand, spending on non-food products declined by 1.7%. On a monthly basis, retail trade rose by 1% in March, following a downwardly revised 0.3% rise the previous month.
The Riga-based statistics agency said also in a flash estimate, that Latvia gross domestic product (GDP) edged down by 0.2% year-on-year in the first quarter of 2024, following a downwardly revised 0.5% fall in the previous period.
On a quarterly basis, the country's economy grew by 0.8%.
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