Lithuania: Industrial production accelerates in July
August 21, 2014
In July, industrial production expanded 3.9% over the same month last year, which was up from the 1.3% increase recorded in June. The acceleration was driven by a jump in manufacturing output, and supported by growth in the electricity, gas and steam category. Meanwhile, the water supply sector as well as mining and quarrying tallied contractions.
On a sequential basis, industrial production increased 1.6% over the previous month in seasonally-adjusted terms, which contrasted the 2.7% decline registered in June. Annual average growth in industrial production increased slightly from minus 1.3% in June to minus 1.2% in July, which marked the highest level in three months.
Author: Carl Kelly, Economist