Lithuania: Industrial activity contracts at sharpest pace since May 2020 in December
Industrial output plunged 7.7% year on year in December (November: 0.0% yoy). December’s result marked the worst reading since May 2020. December’s notable weakening was partly due to a bigger drop in manufacturing output. In addition, mining and quarrying production fell notably.
On a seasonally adjusted monthly basis, industrial output fell 4.0% in December (November: +0.4% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.7%, down from November’s minus 4.2%.