Technical recession is just around the corner - Swedbank

• Published date: 28 July 2022
• Publication title: LETA

RIGA, July 28 (LETA) - Economic growth in the second quarter slowed down compared to the beginning of the year, and most likely technical recession, which means two consecutive quarters of negative growth, is just around the corner, Swedbank's acting chief economist Agnese Buceniece told LETA.

s reported, in the second quarter of 2022 Latvia's seasonally and calendar unadjusted gross domestic product (GDP) grew by 2.6 percent against the same period a year ago, according to a flash estimate released by the Central Statistical Bureau (CSB) on Thursday. In the first quarter, Latvia's GDP increased 6.7 percent year on year. Compared to the first quarter of 2022, Latvia's seasonally and calendar-adjusted GDP decreased by 1.4 percent.

ccording to Buceniece, the main reasons for slower growth include high prices, shortages of...