Lithuania Industry May 2022

Lithuania

Lithuania: Industrial output records slowest expansion since February 2021 in May

June 23, 2022

Industrial output grew 7.2% in year-on-year terms in May, which followed April's 18.8% increase. The result marked the lowest reading since February 2021. May's notable weakening was largely due to a deterioration in manufacturing output growth, as it recorded the weakest reading since November 2020. Meanwhile, mining and quarrying output rebounded to record a stable figure in May.

On a monthly basis, factory output plummeted 7.6% in seasonally-adjusted terms in May, which was below April’s 6.7% fall and marking the worst result in over two years. Meanwhile, annual average industrial production growth fell to 20.3% in May (April: +22.0%), signaling a worsening trend in the industrial sector.

FocusEconomics panelists project industrial production to increase 8.2% in 2021, which is up 2.8 percentage points from last month’s forecast, and 2.6% in 2022.


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Lithuania Industry May 2022 0

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


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