Lithuania Economic Outlook
February 4, 2020GDP growth remained healthy in the fourth quarter of last year, according to a preliminary estimate. That said, available data hints that this was largely thanks to one-off inflows while key sectors lost momentum at the end of 2019. Industrial output growth fell to a near six-year low in Q4 amid marked deteriorations across the manufacturing and utilities sectors. On top of that, retail sales growth slumped to a two-year low in Q4, signaling that household consumption lost some traction in the quarter amid weakening consumer confidence and faltering private sector lending. Meanwhile, dynamics in the external arena were similarly muted: Merchandise exports dipped in October–November, after slightly increasing in Q3, weighed on by slowing EU trade and a Brexit-related downturn. In other news, on 31 January, Fitch Ratings upgrade Lithuania’s rating to 'A' from 'A-', with a stable outlook, citing robust growth and healthy public finances.
Lithuania Economic GrowthThe economy is seen losing traction this year, as both domestic activity and the external sector face rising headwinds. Slowing wage growth and increasing labor shortages are set to limit private consumption growth, while slowing inflows of EU funds are seen curbing investment activity growth. Meanwhile, feebler demand from the Eurozone bodes ill for the external sector. FocusEconomics analysts see growth at 2.6% in 2020, which is unchanged from last month’s forecast, and at 2.5% in 2021.
Lithuania Economy Data
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Lithuania Economic News
February 14, 2020
Consumer prices rose 0.4% month-on-month basis in January, accelerating marginally from December’s 0.3% increase.
January 30, 2020
GDP rose 3.8% in year-on-year terms in Q4 2019, according to preliminary national accounts data released by Lithuania’s Statistical Institute on 30 January.
January 23, 2020
Industrial production rose 0.6% year-on-year in December, accelerating marginally from November’s 0.4% uptick.
January 10, 2020
Consumer prices rose 0.3% month-on-month basis in December, following November’s flat reading.
December 10, 2019
Consumer prices were flat on a month-on-month basis in November, following October’s 0.1% uptick.