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Lithuanian 4th-Quarter GDP Growth Slowed to 4%, Missing Estimate

Jan. 30 (Bloomberg) -- Lithuania’s economy grew slower than economists predicted in the fourth quarter, the statistics office said, citing a preliminary estimate.

Gross domestic product advanced 4 percent from a year earlier, compared with 4.4 percent in the previous three months, the statistics office in the capital, Vilnius, said today by e-mail. That’s less than the 4.5 percent median estimate of three economists in a Bloomberg survey. GDP rose a seasonally adjusted 1 percent from the third quarter.

Lithuania’s economy grew 3.6 percent in 2012, the statistics office said, with the Finance Ministry projecting 3 percent expansion this year. The Baltic economy is outpacing growth in most of Europe and measures to cut the budget deficit in December have reassured investors, according to Mohammed Kazmi, a London-based economist at Royal Bank of Scotland Plc.

The statistics office is due to release a breakdown of fourth-quarter GDP data on Feb. 28.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

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

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