Analytics, Industry, Latvia, Markets and Companies

"There are several indications that manufacturing is on a rise in Latvia. The latest Citadele Index shows that manufacturers are the most optimistic compared to other business sectors, and the economic indicators also suggest steep growth in manufacturing," said Baiba Abelniece, a spokeswoman for the Citadele Bank.

Overall business sentiment in Latvia has been improving for the second quarter in a row and shows slight optimism at 50.73 points in the second quarter of 2017. If the index value is above 50 points, this means the business sentiment is optimistic.

In manufacturing, the index is 52.79 points. Last time optimism in manufacturing was this high three years ago.

Optimism has increased also in the construction industry (51.69 points), and service providers remain optimistic at 50.32 points while retailers had not been optimistic since 2014 and the current index value for the retail sector is 48.93 points.

More detailed information about the latest Citadele Index will be made public at a news conference on Thursday, September 21. Latvian Economics Minister Arvils Aseradens will also speak at the news conference, presenting the government's plans for improving business environment and boosting growth in the manufacturing industry.

The Citadele Index is based on a survey of 750 company owners and business executives, representing firms of different sizes doing business in different industries. The index is published quarterly since 2004. SKDS pollster carries out the survey for Citadele Bank.