Lithuania: Economic growth improves in second quarter
July 30, 2013
According to the National Statistics Office's flash estimate released on 30 July, in the second quarter GDP rose 3.7% over the same period last year. The reading represents an improvement compared to the 3.5% increase registered in the first quarter, but undershot market expectations of 4.2% growth.
On a quarter-on-quarter basis, GDP grew a seasonally and working-day adjusted 0.6% in Q2, which was below the 1.3% expansion observed in Q1. More detailed data will be released on 29 August.
The Central Bank expects GDP to grow 3.1% in 2013 and 3.8% in 2014. FocusEconomics Consensus Forecast panellists see the economy growing 3.2% this year, which is up 0.1 percentage points from last month's estimate. In 2014, the panel expects GDP to expand 3.6%.
Author: Ricardo Aceves, Senior Economist