Lithuania: Growth loses pace in Q3
October 30, 2018
According to a flash estimate released by the Statistical Institute on 30 October, Lithuanian GDP rose 2.2% in annual terms in the third quarter, down significantly from the second quarter’s 3.8% year-on-year increase. Downbeat growth in Q3 marked a two-year low and came on the back of weak growth in the agricultural sector due to lower crop yields. Subdued performances across the forestry and fishing sectors also weighed on activity growth in Q3.
In seasonally- and working-day adjusted quarter-on-quarter terms, GDP fell 0.4% in Q3, swinging from a healthy 0.9% expansion in Q2. The result marked the first contraction in eight years.
A more detailed breakdown of the Q3 result will be released on 30 November.
Author: Almanas Stanapedis, Economist