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Lithuania Industrial production January 2023

Lithuania: Industrial activity contracts at sharpest pace since May 2020 in January

Industrial output dropped 9.4% year on year in January (December: -7.7% yoy). January’s outturn marked the worst reading since May 2020. The figure largely reflected a drop in electricity, gas, steam and air conditioning production. In contrast, manufacturing production gained steam.

On a monthly basis, factory output decreased 1.5% in seasonally adjusted terms in January, improving notably from December’s 4.0% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 11.0%, down from December’s minus 7.7%.

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