Lithuania: Industrial output surges in July
Industrial production jumped 6.9% in July, recovering vigorously from June’s 1.0% year-on-year contraction. July’s result was chiefly driven by a solid rebound in manufacturing production which more than offset lower mining and quarrying output. Furthermore, output in the electricity, gas, steam and air conditioning supply sector continued to expand solidly in July and, coupled with booming water supply, sewerage, waste management and remediation activities, further supported overall upturn.
On a month-on-month basis, industrial output increased 1.2% in seasonally and working-day adjusted terms in July, decelerating slightly from June’s 1.8% jump. Meanwhile, annual average growth in industrial production ticked down from 4.6% in June to 4.5% in July.