Lithuania: Industrial output dips in October
November 22, 2019
Industrial production fell 0.6% year-on-year in October, contrasting September’s robust 8.6% increase which had marked the strongest expansion since April.
October’s downturn was broad-based. After expanding solidly in September, the all-important manufacturing sector swung to a contractionary territory, leading the overall deterioration. In a similar fashion, production in the mining and quarrying sector slipped in October, contrasting a mild expansion in the previous month. On top of that, output growth in the electricity, gas, steam and air conditioning supply sector slipped into negative territory in October, while water supply, sewerage, waste management and remediation activities decelerated markedly from September.
On a month-on-month basis, industrial output fell 2.3% in seasonally and working-day adjusted terms in October, contrasting September’s 2.5% increase and marking the strongest contraction since January. Meanwhile, annual average growth in industrial production slumped to an over two-year low of 3.9% in October (September: 4.9%).
Author: Almanas Stanapedis, Economist