Lithuania: Industrial output growth accelerates in March
April 22, 2013
In March, industrial production expanded 9.0% over the same month last year, which was well above the 1.3% increase observed in February. The acceleration was mainly driven by stronger growth in manufacturing as well as by a rebound in electricity, gas and steam.
On a monthly basis, industrial production rose 2.0% over the previous period in seasonally adjusted terms, which contrasted the 3.7% decline tallied in February. As a result of the faster annual increase, the trend points upwards, with annual average growth in industrial production edging up from 4.2% in February to 4.5% in March.
FocusEconomics Consensus Forecast panellists expect industrial production to expand 4.6% this year, which is up 0.3 percentage points over last month's estimate. For 2014, the panel anticipates industrial production to increase 6.5%.