Lithuania Economic Outlook
June 26, 2018The economy got off to a healthy start this year according to recently released data, with growth led by sustained strength in the external sector and robust fixed investment growth in the face of a favorable monetary policy environment. Exports rose on an annual basis by double digits in Q1, comfortably outpacing growth in imports despite easing demand from some of Lithuania’s key trading partners, including its Baltic neighbors and Poland. On the domestic front, stronger wage growth and a sustained moderation in inflationary pressures supported household consumption. Meanwhile, available data for the second quarter points to continued growth dynamics; the economic sentiment indicator surged to an over one-decade high in May. Industrial production ticked up in the same month on the manufacturing sector’s strength, whereas private consumption was likely supported by easing inflationary pressures.
Lithuania Economic GrowthDomestic demand is projected to remain robust and drive growth in the short-to-medium term, largely on the back of improving labor market conditions coupled with a favorable investment climate and more effective absorption of EU structural funds. Furthermore, and despite an expected slowdown, the external sector will likely remain sturdy in the short term. The economy is projected to expand 3.3% in 2018, which is unchanged from last month’s forecast. In 2019, FocusEconomics panelists see growth moderating slightly to 2.9%.
Lithuania Economy Data
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Lithuania Economic News
June 22, 2018
Industrial production expanded 4.9% in May over the same month in the previous year, accelerating from April’s 3.8% year-on-year increase.
June 12, 2018
Consumer prices rose 0.4% in May compared to the previous month, moderating from April’s 0.6% month-on-month increase.
June 1, 2018
According to detailed data released by the Statistical Institute on 1 June, GDP expanded 3.7% in annual terms in the first quarter, down from 4.0% in the fourth quarter (previously reported: +3.6% year-on-year) Sustained fixed investment growth, coupled with a healthy expansion in private consumption and a solid increase in exports, were the key drivers of growth in the first quarter. Fixed investment soared 9.1% in Q1, a slight deceleration from a nearly four-year high of 9.7% observed in Q4.
May 22, 2018
Industrial production expanded 3.8% over the previous year in April, moderating from March’s revised 9.4% increase (previously reported: +8.8% year-on-year).
May 10, 2018
Consumer prices rose 0.6% in April compared to the previous month, accelerating from March’s 0.4% month-on-month increase.