Lithuania: Industrial output dips in March
April 23, 2020
Industrial production fell 1.5% year-on-year in March, contrasting a revised 3.4% expansion in February (previously reported: +2.4% year-on-year).
March’s downturn was broad-based. Output in the all-important manufacturing sector contracted in March following a healthy increase in February. In a similar fashion, activity in the mining and quarrying; electricity, gas, steam and air conditioning supply; and water supply, sewerage, waste management and remediation activities sectors dipped at the end of Q1, following February’s expansions.
On a month-on-month basis, industrial output rose 0.7% in seasonally- and working-day adjusted terms in March, following a 0.4% drop in Febraury and marking the first increase since November 2019. Meanwhile, annual average growth in industrial production plunged to an over five-year low of 2.4% in March (February: 2.8%).
Author: Almanas Stanapedis, Economist