Lithuania: GDP growth slows at the outset of the year
April 30, 2013
In the first quarter, GDP grew 3.4% over the same period last year, according to the flash estimate released on 30 April by the National Statistics Office. The result came in below both the 4.1% expansion recorded in the fourth quarter and the FocusEconomics Consensus Forecast of 3.7%.
On a quarter-on-quarter basis, GDP expanded a seasonally and working-day adjusted 1.3% over the previous quarter, which was above the 0.7% increase tallied in Q4 2012. More detailed data will be released on 30 May.
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%.