Lithuania Industry March 2020

Lithuania

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%).

FocusEconomics panelists project industrial production to fall 4.2% in 2020, which is down 6.7 percentage points from last month’s projection. For 2021, our panel forecasts industrial output growth of 2.4%.


Author:, Economist

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