Lithuania Economic Growth Slows Sharply in Q3 2019

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Lithuania economic growth slowed sharply in the third quarter, flash estimates from Statistics Lithuania showed on Wednesday.

Gross domestic product grew a seasonally and calendar adjusted 3.6 percent year-on-year in the third quarter after a 4.0 percent expansion in the previous three months.

Compared to the previous quarter, GDP edged up 0.1 percent in the third quarter after a 0.9 percent growth in the second quarter.

The quarterly rate of growth was the weakest since the third quarter of 2014, when the economy expanded at the same pace.

The largest influence on GDP growth was made by an increase in value added created by enterprises engaged in wholesale and retail trade, repair of motor vehicles and motorcycles, transport and storage, accommodation and food service activities, the agency said.

Negative contribution came from changes in value added created by enterprises engaged in professional, scientific, technical, administrative and support service activities.