Estonian Q1 growth stalls at just 0.1 pct yr

The figure was down from a 0.4 percent growth flash estimate by the office. Quarter-on-quarter, gross domestic product (GDP) contracted 0.5 percent, revised up from a fall of 1.9 percent. Deceleration of GDP growth was influenced by the decrease in domestic demand and exports," theE statistics office said in a statement.

The first quarter figure compared with growth of 4.8 percent in the last quarter of 2007. Compared to the same quarter of the previous year, domestic demand decreased by 0.7 percent at constant prices due to a decrease of 0.4 percent in private consumption.

Capital investments grew by 5.2 percent due to investments in construction by the general government sector, the office said. Exports decreased by 5.4 percent and imports by 3.8 percent at constant prices compared to the first quarter of the previous year," it added. Exports of goods decreased by 0.6 percent primarily due to the decrease in exports of refined petroleum products, it added. Continued..

Source http://reuters.com/article/rbssfinancialservicesandrealestat~

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