Lithuania: Industrial output edges up in December
January 23, 2020
Industrial production rose 0.6% year-on-year in December, accelerating marginally from November’s 0.4% uptick. The result chiefly reflected sturdy mining sector activity which, coupled with moderate growth in the all-important manufacturing sector more than offset a significant contraction in the electricity, gas, steam and air conditioning supply sector. The later was likely driven by warmer than usual weather in December. Meanwhile, water supply, sewerage, waste management and remediation activities expanded at a modest pace in December.
On a month-on-month basis, industrial output fell 1.9% in seasonally and working-day adjusted terms in December, contrasting November’s 3.0% increase. Meanwhile, annual average growth in industrial production slumped to a near three-year low of 3.6% in December (November: 3.7%).
Author: Almanas Stanapedis, Economist