Have the Baltics entered a recession?

Current evidence suggests that the economic tide is now finally turning in the Baltics. And the slowdown may have far reaching consequences for the region, says Claus Vistesen.

As any mildly astute economist will know it is extremely difficult to call the exact turning point in an economic cycle and thus the point in time where a recession starts. Usually, such issues are resolved post mortem when the economic data has been firmly revised.

Moreover, the actual determination of a slowdown's or a recession's starting point also quickly turns into a battle royal between economists as the alphabet soup of different national account measures easily ties up the discussion as we end up comparing apples and pairs.

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