In June, industrial production contracted 0.4% over the same month last year. Although the figure represented an improvement over the 14.4% drop observed in May, it still marked the second consecutive month of contraction. The mild decline was driven by better results in the manufacturing and in the mining sectors compared to May. A month-on-month comparison corroborates the improvement seen in the annual reading, as industrial production added 18.5% over the previous month in seasonally adjusted terms (May: -15.9% month-on-month), largely reflecting the reopening of the Orlen Lietuva refinery, the largest refinery in the country, which closed down in May for maintenance. Nevertheless, the trend continues to point downwards, with annual average growth in industrial production dropping from 2.8% in May to 1.9% in June.
Industrial production moderates the pace of contraction
August 1, 2012
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Lithuania Industry Chart
Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Lithuania and FocusEconomics calculations.
Lithuania Economic News
October 21, 2016
In September, Lithuania’s industrial production rose a noteworthy 8.0% from the same month last year, the highest reading in eight months.
October 10, 2016
Consumer prices in Lithuania rose 0.6% in September from the previous month, which contrasted the 0.5% drop in August.
September 21, 2016
In August, Lithuania’s industrial production rose 1.6% over the same month last year.
September 8, 2016
Consumer prices fell 0.5% over the previous month in August, which was slightly above July’s 0.7% drop.
August 30, 2016
GDP rose 1.9% in annual terms in Q2, according to detailed data released by the National Statistics Office on 30 August.