Lithuania: Industrial output records first contraction in nine months in June
July 23, 2019
Industrial output fell 1.0% in annual terms in June, contrasting May’s moderate 1.1% year-on-year increase. June’s reading marked the first contraction in industrial output since September 2018.
The contraction was chiefly driven by sliding mining and quarrying production, as well as by a dip in manufacturing output. In addition, water supply, sewerage, waste management and remediation activities recorded a mild drop in June. On a more positive note, output in the electricity, gas, steam and air conditioning supply sector grew solidly in the same month.
On a month-on-month basis, industrial output increased 1.8% in seasonally and working-day adjusted terms in June, rebounding from a soft 0.3% fall in the previous month. Meanwhile, annual average growth in industrial production ticked down from 4.9% in May to 4.5% in June.
Author: Almanas Stanapedis, Economist