Lithuania: Economy slows to lowest pace in almost two years
July 31, 2012
In the second quarter, GDP grew 2.1% over the same period last year, according to the flash estimate released on 30 July by the National Statistics Office. The result came in below both the 3.9% expansion recorded in the previous quarter and market expectations of a 3.0% increase. In addition, the reading marked the slowest quarterly expansion recorded since the third quarter of 2010. A quarter-on-quarter analysis, however, does not corroborate the slowdown observed in the annual figures, as GDP expanded a seasonally and working-day adjusted 0.4% over the previous quarter, slightly up from the 0.3% expansion recorded in Q1. More detailed data will be released on 29 August.
Author: Armando Ciccarelli, Head of Data Solutions