Lithuania Industry May 2020

Lithuania

Lithuania: Industrial activity drops again in May

June 23, 2020

Industrial output plunged 10.0% in May compared to the same month a year earlier, following April's 11.7% decrease which had marked the sharpest contraction since March 2014.

The moderation was largely due to an improvement in manufacturing and electricity, gas, steam and air conditioning output. Activity in the mining sector slipped into contraction in May, however.

On a monthly basis, factory output increased 6.9% in seasonally-adjusted terms in May, rebounding notably from April’s 8.3% fall. The print marked the best result since October 2018. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.0%, down from April's 0.0%.

FocusEconomics panelists project industrial production to fall 5.8% in 2020, which is up 1.0 percentage point from last month’s projection. For 2021, our panel forecasts industrial output growth of


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