Lithuania's GDP growth accelerates to 7.2%28.10.2011, 13:15
In Q3, Lithuania's economy expanded by an annual working day adjusted 7.2%, flash estimate from the country's statistics department shows, having added visibly to its growth momentum gained in the first two quarters. Without the working day adjustment, the economy rose by 6.6%, writes news2biz.
The Q3 GDP rate is well above Bloomberg's analyst consensus that put the expansion rate at 5.5-6.5%.
Strong export development as well as recovering local demand contributed to the growth, and so did the low base effect (GDP expanded at a humble 1.2% in Q3 2010 that was only the second positive growth quarter after a 6-quarter recession).
Lithuanian GDP change y/y:
Q3 2011: +7.2%
Q2 2011: +6.5%
Q1 2011: +5.4%
Q4 2010: +4.4%
Q3 2010: +1.2%
Q2 2010: +0.9%
Q1 2010: -1.1%