Lithuania GDP Plunges In Q2

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Tuesday, the Statistics Lithuania said in a preliminary report that the gross domestic product or GDP decreased 22.4% year-over-year in the second quarter, decelerating from 13.3% fall in the first quarter, revised from 13.6% drop reported initially.

On a sequential basis, the GDP fell 1.1% in the second quarter, compared with a revised 21.9% decline in the previous quarter. The first quarter data is revised from 22.1% fall estimated in the preceding report.

After adjusting for seasonal and working day effects, the GDP slipped 22.6% annually in the second quarter compared to a revised 11.6% fall in the preceding quarter. Compared to the previous quarter, the GDP slipped 12.3% in the second quarter, after a revised 10.2% decline in the first quarter.

Tuesday, the Statistics Lithuania said in a preliminary report that the gross domestic product or GDP decreased 22.4% year-over-year in the second quarter, decelerating from 13.3% fall in the first quarter, revised from 13.6% drop reported initially. (Market News Provided by RTTNews)