Lithuania: Growth accelerates in the fourth quarter
January 30, 2019
According to preliminary data released by the Statistical Institute on 30 January, the economy expanded 3.9% in annual terms in the fourth quarter last year, up from the third quarter’s 2.6% year-on-year increase (previously reported: +2.4% year-on-year). The result marked the strongest expansion since Q2 2017 and was driven by solid performances in the manufacturing, construction, wholesale and retail trade sectors.
On a quarter-on-quarter basis, growth surged to 1.6% in seasonally-adjusted terms in the fourth quarter. The result marked the fastest acceleration in over six years and was a significant improvement from the previous quarter’s meager 0.1% increase (previously reported: -0.3% month-on-month). Meanwhile, full year growth came in at 3.5% in 2018, decelerating from 2017’s 4.1% expansion.
Author: Almanas Stanapedis, Economist