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Tuesday, the Statistics Lithuania in a preliminary report announced that the gross domestic product or GDP dropped 14.3% on yearly basis in the third quarter, after a 19.5% fall in the second quarter. This represents the fourth consecutive quarter of decline.
Sequentially, the GDP rose 13% in the third quarter, much sharper than a 2.5% rise in the second quarter, and in contrast to a 21.1% drop seen in the first quarter.
The Danske Bank in a note said it expected the GDP to have dropped by as much as 25.3% year-on-year in the third quarter.
In the first nine months of the year, the GDP was down 15.7% from the corresponding period last year.
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