FX.co ★ Latvia's Retail Sales Plummet in January 2024

In January 2024, Latvia witnessed a significant downturn in retail sales as the current indicator dropped to -2%, in contrast to the previous month of December 2023, where the indicator stood at 1.1%. This indicates a challenging start to the year for the Latvian retail sector. The data, updated on 29th February 2024, reflects a Year-over-Year comparison, showing a decline in consumer spending compared to the same period last year. Despite efforts to stimulate the economy, the retail industry in Latvia appears to be facing headwinds, highlighting the need for strategic measures to boost consumer confidence and spending in the coming months.