Lithuania Industry October 2022

Lithuania

Lithuania: Industrial output growth eases in October

November 23, 2022

Industrial output increased 1.0% compared to the same month of the previous year in October, which followed September's 3.6% increase. October's slowdown was partly due to a deterioration in manufacturing production. In addition, mining and quarrying production fell.

On a seasonally adjusted monthly basis, industrial output rebounded, rising 1.1% in October (September: -7.2% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over one-year low of minus 1.1%, contrasting September's plus 2.0% reading.

Our panel sees industrial output falling 0.3% in 2023, which is down 0.2 percentage points from last month’s forecast, and 3.2% in 2024.


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Lithuania Industry October 2022

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Lithuania and FocusEconomics calculations.


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