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Latvia maintains EU's fastest economic growth in Q4

 LUXEMBOURG, March 7 - Latvia registered the highest gross domestic product growth (year-on-year and quarter-on-quarter) in the European Union in the fourth quarter of 2012, according to the updated estimates published by "Eurostat", the statistical office of the European Union.

The data on Latvia, first published in the office's flash estimate this past February, were not revised.

Latvia's GDP grew 5.7 percent in the fourth quarter of 2012, compared to the respective period in 2011.

Estonia displayed the second fastest economic growth year-on-year - 3.4 percent, followed by Lithuania - 3 percent.

Estonia's estimate was not revised, Lithuania's - reduced 0.1 percent.

Compared to the fourth quarter of 2011, GDP fell 0.9 percent in the euro area and 0.6 percent in the EU in the fourth quarter of 2012.

In comparison with the third quarter of 2012, GDP fell 0.6 percent in the euro area and 0.5 percent in the EU in the fourth quarter of 2012.

Latvia also recorded the fastest economic growth quarter-on-quarter - 1.3 percent, followed by Estonia - 0.9 percent. Both estimates were not revised.

Lithuania's estimate was reduced from 1 percent to 0.7 percent, the third highest GDP growth (quarter-on-quarter) in the EU.
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