Tuesday, the Statistics Lithuania revised up the fall in the gross domestic product for the fourth quarter.

The gross domestic product dropped 2.2% year-on-year in the fourth quarter, quicker than the 2% fall reported initially. In the third quarter, the GDP rose 2.9%.

On a sequential basis, the GDP slipped 6.8% in the fourth quarter, faster than the 6.6% fall estimated earlier. In the third quarter, the GDP was up 7.7%.

For the whole year of 2008, the GDP growth was revised down to 3% from 3.1% reported initially.

On the basis of working data adjusted figures, the GDP fell 1.3% annually in the fourth quarter compared to a 2% rise in the previous quarter. Compared to previous quarter, GDP slipped 1.4% versus 0.3% drop in third quarter.

Meanwhile, the statistical office said that the economic sentiment indicator declined to minus 37 in March from minus 36 in the previous month.

In March, the industrial confidence indicator increased to minus 29 from minus 30, while the construction confidence declined to minus 82 from minus 76. The trade confidence indicator increased to minus 53 from minus 58, while the service confidence indicator decreased to minus 27 from minus 24. Meanwhile, the consumer confidence indicator remained unchanged at minus 51.

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