Lithuania: Economy picks up in the third quarter
October 28, 2011
GDP surged 6.6% annually in the third quarter, according to the flash estimate released on 28 October by the National Statistics Office. The robust third quarter print came in above the 6.5% increase recorded in the previous quarter (previously reported: +6.3% year-on-year). A quarter-on-quarter comparison, however, does not corroborate the acceleration suggested in the annual figures, as GDP increased a seasonally and working-day adjusted 1.3% over the second quarter, when the economy expanded 1.8%. That said, the third quarter expansion represents the seventh consecutive quarter-on-quarter increase in GDP. The Central Bank expects GDP will grow 5.6% this year and 4.8% in 2012.