Lithuania economy shrinks in the Q2

Analysis

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Lithuanian economy shrank 5.5% on quarter in the three months to June, worse than an earlier estimate of a 5.1% contraction and compared to a 0.3% contraction in the previous period, Statistics Lithuania (LS) said on Monday.

Image by Shutterstock.com

Decreases were reported in every segment, led by construction (-9.5%) and wholesale and retail trade transport, accommodation and food service activities (-7.6%).

On a yearly basis, the GDP contracted by 4.2%, the first contraction since the first quarter 2010, reversing a 2.4% expansion in the previous period. 

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