Lithuania: Economic growth accelerates in Q4
January 30, 2014
According to the flash estimate the National Statistics Office's released on 30 January, GDP rose 3.3% over the same period of the previous year in the fourth quarter. The reading represents an acceleration compared to the 2.3% increase registered in the third quarter.
On a quarter-on-quarter basis, GDP grew a seasonally and working-day adjusted 1.2% in Q4, which was above the 0.1% expansion observed in Q3. According to this initial estimate, the Lithuanian economy grew 3.2% in 2013, which was down from the 3.7% registered in 2012. More detailed data will be released on 28 February.
The Central Bank expects GDP to grow 3.5% in 2014. FocusEconomics Consensus Forecast panelists see the economy growing 3.6% in 2014, which is unchanged from last month's estimate. In 2015, the panel expects GDP to expand 4.0%.
Author: Carl Kelly, Economist