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Lithuania Industrial production March 2023

Lithuania: Industrial output contracts at sharpest rate since May 2012 in March

Industrial output collapsed 15.3% year on year in March (February: -8.4% yoy). March’s figure marked the worst reading since May 2012. The reading reflected a broad-based downturn across the major sectors, with manufacturing, mining and quarrying and electricity, gas, steam and air conditioning all contracting in March.

On a seasonally adjusted monthly basis, industrial production rose 0.8% in March (February: -0.8% mom), the best result since August 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 17.3% in March, down from February’s minus 13.7% reading.

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