That was much worse than i expected:
According to Statistics Estonia, by flash estimations gross domestic product (GDP) growth was 0.4% in Estonia in the 1st quarter of 2008 compared to the same quarter in the previous year.That is pretty hard landing. Quite on the level with Latvia and the worst quarter for at least 12 years (the worst quarter we saw during 1998 economic crisis was -1,0%).
...
The seasonally adjusted GDP at constant prices decreased by 1.9% in the 1st quarter of 2008 compared to the 4th quarter.
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