Lithuania: Industrial activity swings into contraction in July
Industrial production collapsed 9.0% year on year in July (June: +6.9% yoy). The downturn was largely due to drops in manufacturing and electricity, gas, steam and air conditioning output.
On a monthly basis, industrial output dropped 4.4% in seasonally adjusted terms in July, which was well below June’s 4.3% expansion and marking the worst result since September 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 17.3%, down from June’s minus 16.4%.