Lithuanian economy grew 0.8 percent on quarter in the three months to June 2019, less than an earlier estimate of a 0.9 percent growth and compared to a 1.2 percent rise in the previous period. This was the weakest GDP growth since the third quarter last year. Positive contributions came mostly from manufacturing (0.5% vs 1.1% in Q1); professional, scientific and technical activities, administrative & support activities (0.6% vs 1.9%); wholesale and retail trade; repair of motor vehicles & motorcycles, transport and storage, accommodation & food services (2.0% vs 0.4%), and information and communication (2.1% vs -1.4%). Conversely, contraction was seen in construction (-0.3% vs 6.6%) and agriculture, forestry & fisheries (-0.5% vs 1.3%). Meantime, real estate activities showed no growth after declining by 0.7 percent in Q1. Year-on-year, the GDP advanced 3.9 percent, below a first reading of 4.1 percent, and compared to a 4.2 percent rise in the first quarter. GDP Growth Rate in Lithuania averaged 1.05 percent from 1995 until 2019, reaching an all time high of 4.80 percent in the first quarter of 2003 and a record low of -13.10 percent in the first quarter of 2009.
GDP Growth Rate in Lithuania is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Lithuania to stand at 0.50 in 12 months time. In the long-term, the Lithuania GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.