Lithuania Industry July 2020

Lithuania

Lithuania: Industrial activity broadly stable in July

August 21, 2020

Industrial production fell 1.4% year-on-year in July (June: -1.2% yoy). The downturn largely reflected deteriorations in mining and quarrying, and water supply, sewerage, waste management and remediation activities. Meanwhile, manufacturing production contracted at the same rate as in the previous month in July.

On a monthly basis, industrial production increased 2.0% in seasonally-adjusted terms in July, which was better than June’s 1.2% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.7%, down from June's minus 1.0%.

FocusEconomics panelists project industrial production to fall 6.9% in 2020, which is down 0.8 percentage points from last month’s projection. For 2021, our panel forecasts industrial output growth of 4.4%.


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Lithuania Industry July 20 20

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Lithuania and FocusEconomics calculations.


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