Lithuania Industry June 2020


Lithuania: Industrial output contracts at a softer pace in June

July 23, 2020

Industrial output fell 2.0% compared to the same month of the previous year in June, which was markedly softer than May's 9.4% decrease.

June's smaller drop was largely driven by a softer decrease in manufacturing production. In a similar fashion, mining and quarrying output rebounded at the end of Q2.

On a monthly basis, industrial output rose 1.2% in seasonally-adjusted terms in June, which was notably below May’s 6.9% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.1% in June, down from May's minus 1.0% reading.

FocusEconomics panelists project industrial production to fall 6.1% in 2020, which is down 0.3 percentage points from last month’s projection. For 2021, our panel forecasts industrial output growth of 3.9%.


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