In recent economic updates, Latvia's retail sales have experienced a noteworthy month-over-month improvement, registering at 1.10% in November 2024. This increase reflects a significant upturn from the preceding month of October 2024, where the retail sales growth stood at 0.60%.
The latest data, updated on December 28, 2024, highlights Latvia’s retail momentum, which is displaying resilience in the midst of a fluctuating global economy. The rise aligns with growing consumer confidence and potentially higher spending during the holiday period, a trend that is seen as pivotal to sustaining economic momentum.
This upward shift indicates a strengthening consumer base, which could have broader implications for economic activity as Latvia moves into the new year. As businesses and policymakers take note of these trends, the focus may shift towards maintaining this positive trajectory throughout 2025.
