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Monday, January 28, 2008

Lithuania GDP Q4 2007

Lithuania's economy grew at the slowest pace in a year in the fourth quarter as accelerating inflation and tightening bank lending squeezed consumer spending. Growth slowed to an annual 7.9 percent from 10.8 percent in the third quarter, according to a flash estimate from the Vilnius-based statistics office today.

The statistics office also estimated full-year growth in 2007 at 8.7 percent, as compared with 7.7 percent in 2006. a number of indicators now suggest that growth is slowing steadily. The pace of retail sales growth in the last quarter of 2007 was the slowest in almost three years as inflation accelerated to 8.1 percent in December.

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