Today Lithuania reported its 4th quarter 2008 GDP growth flash estimate. The first of the Baltic countries to do so.
Lithuanian Department of Statistics reports that in IV quarter 2008, against III quarter 2008, seasonally and working day adjusted, GDP decreased by 2.4 per cent.
-2.4% q-o-q?! Wow, that's bad! Taking into account that Lithuania was until Q3 considered the best of the Baltics States. Their economy had been growing all the way until Q3 2008 (whereas Latvia has been in the negative territory since Q4 2007 and Estonia since the beginning of 2008). To put the figure into perspective, Estonia's economy has not fallen by more than 1% in any single quarter during the recession.
But then the Lithuanian Department of Statistics adds: After random fluctuations have been eliminated, the GDP fell by 0,2% q-o-q!
What "random fluctuations"?! I don't understand anything! Is the economy quite OK, or in very steep decline?
Lithuanian Department of Statistics reports that in IV quarter 2008, against III quarter 2008, seasonally and working day adjusted, GDP decreased by 2.4 per cent.
-2.4% q-o-q?! Wow, that's bad! Taking into account that Lithuania was until Q3 considered the best of the Baltics States. Their economy had been growing all the way until Q3 2008 (whereas Latvia has been in the negative territory since Q4 2007 and Estonia since the beginning of 2008). To put the figure into perspective, Estonia's economy has not fallen by more than 1% in any single quarter during the recession.
But then the Lithuanian Department of Statistics adds: After random fluctuations have been eliminated, the GDP fell by 0,2% q-o-q!
What "random fluctuations"?! I don't understand anything! Is the economy quite OK, or in very steep decline?
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