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Latvia retail sales decrease In January

Retail

Latvia's retail sales decreased a calendar-adjusted 8.9% year-on-year in January, after a 4.6% fall in December, figures from the Riga-based Central Statistical Bureau (CSB) showed on Friday.

Turnover of retail trade in non-food products declined 23.4% yearly in January and those of food products fell 0.6%. Meanwhile, sales of automotive fuels grew 14.8%.

On a monthly basis, retail sales decreased a seasonally adjusted 4.9% in January, following a 5.8% decline in the prior month. In a separate statement, the statistics agency said that Latvia's economic grew a seasonally and calendar adjusted 1.1% in the fourth quarter of 2020, following a 6.9% expansion in the previous quarter. The fourth quarter rate came in line with the flash estimate released on February 1.

Gross domestic product decreased a non-adjusted 1.5% year-on-year in Q4 after a 2.8% slump in the third quarter. In the whole year, the country's GDP was down 3.6%.

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