Latvia: Economic sentiment hits highest reading since November 2024 in May
Latest reading: Economic sentiment came in at 98.6 in May, up from April’s 98.1. May’s result marked the best performance since November 2024. That said, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected healthier sentiment in the industrial and construction sectors. Meanwhile, consumer confidence was stable in May. Lastly, confidence in the services sector weakened in May, whereas sentiment in the retail sector waned in the surveyed month.
Regarding indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index rose in May.