Lithuania: Industrial production accelerates to a six-month high

Industrial production surged 6.0% year-on-year in July, picking up pace from June’s 2.6% increase. The improvement came largely on the back of a strong performance in the manufacturing, and mining and quarrying sectors. Manufacturing production growth more than doubled from the previous month in July, while mining and quarrying output swung from a marked contraction to a moderate expansion, marking the first positive result in the past six months. In addition, the water supply, sewerage, waste management and remediation activities sector output recorded the largest jump in more than 12 years in July.

On a month-on-month basis, industrial output in July fell 0.3% in working-day adjusted terms, a deterioration from the June’s 0.8% expansion. Meanwhile, annual average growth in industrial production ticked up to 6.3% in Julye from the previous month.

Lithuania Industrial Production Forecast

Analysts surveyed by FocusEconomics expect industrial production to expand 5.2% in 2018, which is down 0.2 percentage points from last month’s projection. For 2019, the panel sees industrial output growing 4.1%.