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. Last Updated: 07/27/2016

Latvia Reveals Booming Retail Sales

RIGA, Latvia -- Latvia's December retail sales soared 26 percent compared to November thanks to the busy holiday shipping season, putting the year-on-year rise at a solid 15 percent, the statistics office said Wednesday.

The statistics office said in a statement that total retail sales, including sales of auto-related products, came to 165 million lats ($277.7 million).

December retail trade showed the biggest year-on-year increase since March, when sales rose 15.2 percent compared to the previous year, further confirming that domestic demand and the overall economy were recovering from the Russian crisis.

The statistics office said preliminary data show that total 1999 retail sales swelled by 12 percent compared to the previous year.

Christmas and New Year celebrations also boosted catering turnover by 16 percent month-on-month to 7.7 million lats.