Lithuania: Industrial output contracts in October
November 23, 2020
Industrial output fell 0.5% year-on-year in October (September: +3.2% yoy). The notable deterioration largely reflected easing manufacturing, and mining and quarrying production. Moreover, electricity, gas, steam and air conditioning supply contracted in October, further weighing on the overall result.
On a monthly basis, factory output decreased 1.6% in seasonally-adjusted terms in October, swinging from September’s 0.3% uptick and marking the worst result since April. Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 1.8%, up from September's minus 1.9% reading.