Lithuania Economic Outlook
August 27, 2019Growth remained vigorous in the second quarter according to a preliminary estimate. Upbeat domestic demand appears to have once again spearheaded the overall expansion, with tightening labor market conditions and growing wages likely to have boosted household consumption. Externally, merchandise export growth largely held up in Q2, despite rising headwinds amid softening demand conditions in the EU. Going into Q3, a deterioration in the economic sentiment indicator and a slip in consumer confidence in July suggest growth momentum softened at the outset of the quarter. In other news, on 13 August, Fitch Ratings upgraded the outlook for Lithuania’s credit rating from stable to positive, citing the government’s sound fiscal policy and financial performance. In a similar move, Moody’s changed the outlook to positive from stable on 23 August.
Lithuania Economic GrowthGrowth is seen losing some traction this year, chiefly on slowing fixed investment growth amid weaker inflows of EU-linked cohesion funds and as the external sector feels the pinch of cooling global growth. That said, the overall expansion will remain healthy, thanks to robust household consumption underpinned by rising employment and higher wages. FocusEconomics analysts see growth clocking in at 3.3% in 2019, which is up 0.2 percentage points from last month’s forecast, before slowing to 2.5% in 2020.
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Lithuania Economic News
September 10, 2019
Consumer prices fell 0.4% month-on-month in August, following a milder 0.3% drop in July, and marking the strongest contraction so far this year. A breakdown of the sub-components provided by Statistics Lithuania showed that 5 of the total 12 sub-components saw a fall in prices, led by considerably lower prices for housing and utilities, which more than offset higher prices for alcoholic beverages and tobacco.
August 30, 2019
GDP increased 3.9% in year-on-year terms in the second quarter, according to detailed national accounts data released by Lithuania’s Statistical Institute on 30 August.
August 23, 2019
Industrial production jumped 6.9% in July, recovering vigorously from June’s 1.0% year-on-year contraction.
August 9, 2019
Consumer prices fell 0.3% month-on-month in July, following a milder 0.2% drop in June, and marking the strongest contraction so far this year. A breakdown of the sub-components provided by Statistics Lithuania showed that just 2 of the total 12 sub-components saw a fall in prices, led by considerably lower prices for clothing and footwear, which more than offset higher prices for recreation and culture; hotels, cafés and restaurants; and food.
July 30, 2019
Robust growth carried over into the second quarter of the year, according to preliminary national accounts data released by Lithuania’s Statistical Institute on 30 July.