Latvia’s loan growth, retail sales undergo quick, steep fall

Dec 05, 2007
By TBT staff

RIGA - Fresh data on retail sales and bank lending released over the past week demonstrate that Latvia’s economy, the fastest growing in the European Union, is slowing down, in some cases dramatically, with fourth-quarter GDP growth likely to be significantly lower than previous reporting periods. At the same time Morgan Stanley, a top international investment bank, said in a report that all three Baltic states were undergoing a significant downturn in economic growth and that the countries st ...

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