Lithuania GDP Q1 2017

Lithuania

Lithuania: Economic growth accelerates further in Q1 2017

April 28, 2017

GDP expanded 4.1% in Q1 2017 from the same period last year, up from a 3.1% increase in Q4 2016 (previously reported: 3.0% year-on-year), marking the highest reading in almost three years, according to a flash estimate released by the National Statistics Office on 28 April.

Looking at the sector-by-sector picture, the strengthening was broad-based. Industrial production accelerated on the back of recovering external demand—especially from Russia—while the good performance of retail sales suggests that private consumption maintained a solid pace of growth thanks to rising wages and an expansion in private credit.

A quarter-on-quarter comparison showed that GDP increased a seasonally and working-day adjusted 1.4% in Q1, which was marginally below Q4’s 1.5% rise.

The Central Bank expects GDP to grow 2.6% in 2017 and 2.8% in 2018. FocusEconomics Consensus Forecast panelists see the economy growing 2.7% in 2017, which is down 0.1 percentage points from last month’s estimate. In 2018, the panel expects GDP to expand 3.0%.


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