Lithuania Industry August 2020

Lithuania

Lithuania: Industrial output grows at fastest pace in 6-months in August

September 23, 2020

Industrial production rose 0.7% year-on-year in August, rebounding from July’s -1.1% contraction. August's print marked the strongest expansion since February.

The upturn was largely broad-based and was spearheaded by a rebound in manufacturing output. In addition, activity in the mining and quarrying sector also recovered in August.

On a seasonally-adjusted monthly basis, factory output rose at a faster rate of 2.3% in August (July: +2.0% mom). Meanwhile, the trend improved modestly, with the annual average variation of industrial production coming in at minus 1.4%, up from July's minus 1.6%.

FocusEconomics panelists project industrial production to fall 5.5% in 2020, which is up 0.6 percentage points from last month’s projection. For 2021, our panel forecasts industrial output growth of 3.8%.


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Lithuania Industry August 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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