Lithuania Industry October 2020

Lithuania

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.

FocusEconomics panelists project industrial production to fall 3.8% in 2020, which is down 0.2 percentage points from last month’s projection. For 2021, our panel forecasts industrial output growth of 4.0%.


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Lithuania Industry October 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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