According to the flash estimate released on 28 April by the National Statistics Office, GDP surged 6.9% in the first quarter over the same period the year before, which was above the 4.8% increase (previously reported +4.6% year-on-year) recorded in the previous quarter. The reading represented the strongest growth since the second quarter of 2008 and exceeded analysts' expectations, which saw the economy expanding 5.1%. A quarter-on-quarter comparison corroborates the improvement seen in the annual figures, as GDP jumped 3.5% in seasonally adjusted terms over the previous quarter, when the economy expanded 1.8% (previously reported +1.7% qoq). The first quarter reading represents a solid step towards recovery, as it marks the fifth consecutive quarterly increase in GDP. Full details of the national accounts data will not be published until 30 May. However, additional data show that the country's industrial sector was a strong growth driver in the first quarter. Based on monthly industrial production data, the industrial sector expanded 14.8% annually in the first quarter, which was another strong result after the buoyant growth of 16.5% tallied in the fourth quarter. The Central Bank raised its growth forecast for this year to 5.6%, which is above the 3.3% projected in February 2011. In 2012, The Bank expects the economy will expand 4.8% (February: +4.1%).
Economy grows at fastest pace in almost three years
April 28, 2011
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Lithuania Economic News
October 10, 2016
Consumer prices in Lithuania rose 0.6% in September from the previous month, which contrasted the 0.5% drop in August.
September 21, 2016
In August, Lithuania’s industrial production rose 1.6% over the same month last year.
September 8, 2016
Consumer prices fell 0.5% over the previous month in August, which was slightly above July’s 0.7% drop.
August 30, 2016
GDP rose 1.9% in annual terms in Q2, according to detailed data released by the National Statistics Office on 30 August.
August 22, 2016
In July, Lithuania’s industrial production decreased 3.8% over the same month last year.