Lithuania’s Economic Growth Slowed in First Quarter to 3.9%

Lithuania’s economic growth slowed in the first quarter as the European debt crisis sapped demand for the Baltic nation’s exports.

Gross domestic product grew a preliminary 3.9 percent from a year earlier, compared with a 4.4 percent increase in the previous three months, the statistics office in the capital Vilnius said today by e-mail. The median estimate of six economists in a Bloomberg survey was 3.5 percent. The economy grew a seasonally adjusted 0.8 percent in the January-March period.

Lithuania’s economy grew at the second-fastest pace in the European Union in the fourth quarter before the crisis bit exports. The Finance Ministry estimates economic growth may slow to 2.5 percent this year from 5.9 percent last year.

The office is scheduled to release a breakdown of the first-quarter GDP data on May 30.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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