Latvia's retail sales growth has witnessed a noticeable slowdown, with figures for January 2025 indicating a notable deceleration in consumer spending. The latest data, updated on February 28, 2025, revealed that the retail sales growth rate halted at 2.10%, a decline from the previous month's figure of 3.40% observed in December 2024.
This year-over-year comparison highlights a weakening momentum in consumer activity, as the current indicator reflects a tempered growth in retail sales compared to the start of the year prior. The December 2024 indicator denoted a relatively robust increase, but the figures for January emphasize the challenges that Latvian retailers face amidst changing economic conditions.
The updated data suggest that, while still positive, the Latvian retail sector is encountering headwinds potentially related to broader economic trends or seasonal variations impacting consumer expenditure. Policymakers and market analysts will likely scrutinize these numbers to monitor underlying factors and adjust strategies accordingly to foster economic stability in the coming months.
