Lithuania Economic Growth Continues To Slow In Q2

Lithuania’s economic growth slowed for the fifth straight time in the second quarter, preliminary estimates from the Department of Statistics showed Thursday.

Gross domestic product, or GDP, rose by a seasonally-and-working day adjusted 1.3 percent year-on-year in the second quarter, the slowest pace since the third quarter of 2010, when the economy expanded 1 percent. In the previous quarter, GDP rose 1.6 percent from a year ago.

Sequentially, the seasonally adjusted GDP grew 0.6 percent in the second quarter after a 0.5 percent decline in the previous quarter.

Second quarter growth was influenced by lower wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation and food service companies’ earnings. Positive GDP growth was affected by construction and industry, the report said.

In the first half of 2015, GDP grew by a seasonally-and-working-day adjusted 1.2 percent compared to the corresponding period of the previous year.

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