Signs of economic recovery

Industrial production in Latvia rose once again in June. The daily Diena views this trend with a certain optimism, as conditions have also improved elsewhere. "Real estate prices have stabilised in the US. And as the bursting of the real estate speculation bubble was the main cause of the crisis, such a stabilisation is a basic requirement for global recovery. In Europe too there are signs of hope. According to the European Central Bank the demand for mortgages is rising and the banks are once more lending money to businesses. In Germany, the largest European economy, surveys indicate growing optimism among businesses and consumers. Does this mean the world is moving toward sustained recovery? In any event, share prices are once more rising. ... If the positive prognoses prove correct, conditions will also be good for the Latvian export industry."

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