Lithuania’s GDP contracts in 1st quarter
Lithuania’s economy shrank for the first time since late 2009, second estimates from Statistics Lithuania (LS) show. Gross domestic product fell 0.3 percent sequentially in the first quarter, which was revised from 0.2% fall estimated on April 30.
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This was the first contraction since the fourth quarter of 2009, when GDP was down 1.3%. GDP had advanced 1.1% in the fourth quarter of 2019.
On a yearly basis, the economy grew 2.4% in the first quarter, but slower than the 3.8% growth logged a quarter ago, LS said on June 1.
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