Latvia: Economic sentiment deteriorates in October
Economic sentiment came in at 94.1 in October, down from September’s 96.2. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected weaker sentiment in the construction sector. Moreover, confidence in the services sector softened, and consumer confidence weakened in October. Meanwhile, the latest survey saw healthier sentiment in the industrial sector and improving sentiment in the retail sector.
Considering indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index increased in October.