Lithuania: Economy slows in fourth quarter
January 30, 2012
In the fourth quarter, GDP grew 4.3% over the same period the year before, according to the flash estimate released on 30 January by the National Statistics Office. The outturn came in well below the revised 6.7% expansion recorded in the previous quarter (previously reported: +6.6% year-on-year) and undershot market expectations of a 6.0% increase. In the full year 2011, GDP expanded a robust 5.8% (2010: +1.4% yoy), which was a notch above the 5.6% projected by the Central Bank. According to the statistical office, the main drivers behind the strong growth in 2011 were the construction industry as well as the trade, transport and communication services sectors. More detailed data on Lithuania's GDP will be released on 28 February. The Central Bank expects GDP will grow 4.8% in 2012.