Lithuania: Industrial output growth slows to year-to-date low In May
June 24, 2019
Industrial output ticked up 1.1% in May, decelerating sharply from April’s robust 16.5% year-on-year surge. May’s reading marked the weakest expansion since December 2018.
The deceleration was chiefly driven by a contraction in the mining a quarrying sector, as well as by a marked slowdown in manufacturing output growth. Furthermore, both the electricity, gas, steam and air conditioning supply sector and water supply, sewerage, waste management and remediation activities lost some traction in May.
On a month-on-month basis, industrial output contracted 0.3% in seasonally and working-day adjusted terms in May, unchanged from the previous month´s reading. Meanwhile, annual average growth in industrial production ticked down from 5.3% in April, to 4.9% in May.
Author: Almanas Stanapedis, Economist