Lithuania: Industrial production accelerates in July
August 21, 2013
In July, industrial production increased 3.0% over the same month last year, which represents an acceleration compared to the revised 1.0% expansion recorded in June (previously reported: +0.9% year-on-year). The faster expansion in July mainly reflects higher growth in manufacturing output as well as a substantial increase in mining and quarrying. On a sequential basis, industrial production jumped 3.3% over the previous month in seasonally adjusted terms, well above June's 0.7% increase. Annual average growth in industrial production edged down from 8.0% in June to 7.8% in July. FocusEconomics Consensus Forecast panellists expect industrial production to expand 4.4% this year, which is down 0.1 percentage points over last month's estimate. The panel expects that industrial production will increase 6.4% in 2014.
Author: Ricardo Aceves, Senior Economist