Latvian Q2 GDP up 5.3 pct on year

The Latvia’s statistics office has released its estimate for Q2 2011 GDP growth today, showing that the Latvian economy has grown 5.3% year-on-year, reports news2biz.

More encouragingly, the quarter-on-quarter growth has reached 2.2%, finally picking up speed after two quarters of increasingly worse performance.

Much of the GDP growth comes from a notably increased industrial output: 13% up y-o-y in Q2. Manufacturing showed the highest growth at 15.5% y-o-y.

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