According to the Expectations Index, a report calculated by the Lithuanian Confederation of Industrialists, the second wave of recession is not likely to occur. However, President Dalia Grybauskaite disagrees and argues that different indicators should be examined, Delfi.lt reported.
Last week, the Lithuanian Confederation of Industrialists held a press conference and, speaking on behalf of the producers, announced that despite the tensions in the Euro zone countries, further economic growth should be expected in the third quarter of the year. At the same time, D. Grybauskaite insists that the manufacturers are not looking into the correct data.
“Industrialists are taking into account quarterly orders and I’m talking about the strategic and economic perspectives. We are talking about different things that just cannot be compared,” said the President.
Asked whether a slower growth of the GDP in the second quarter is a sign of the recession, she said, “I do not want to forecast anything. There is a long-term macroeconomic outlook and there are quarterly orders.”
Real GDP growth was 2.1 percent in the second quarter of this year compared to the same period last year.
Translated by Dovile Rokaite