Lithuania GDP Q2 2017


Lithuania: Economic growth remains robust in Q2 2017

July 31, 2017

GDP expanded 3.9% in Q2 2017 from the same period last year, slightly down from a 4.1% increase in Q1 and marking the second-highest reading in three years, according to a flash estimate released by the National Statistics Office on 31 July.

Looking at the sector-by-sector picture, the strengthening was broad-based. Industrial production continued to grow on the back of recovering external demand—especially from CIS countries—while the good performances of retail and wholesale trade suggest that household spending maintained a solid pace of growth thanks to rising wages, tightening labor market conditions and a robust expansion in private credit.

A quarter-on-quarter comparison showed that GDP increased a seasonally and working-day adjusted 0.6% in Q2, which was significantly below Q1’s 1.3% rise.

The Central Bank expects GDP to grow 3.3% in 2017 and 2.8% in 2018. FocusEconomics Consensus Forecast panelists see the economy growing 3.2% in 2017, which is up 0.1 percentage points from last month’s estimate. In 2018, the panel expects GDP to expand 2.9%.

Author: Massimo Bassetti, Economist

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