Lithuania: Industrial production continues to moderate in July
August 22, 2011
In July, industrial production expanded 6.8% over the same month last year, which was down from the revised 10.8% rise recorded in June (previously reported: +10.4% year-on-year). Manufacturing slowed from an 11.3% expansion to a 7.8% increase in July. Mining and quarrying as well as water supply moderated over the previous month's reading, while electricity and gas recorded a contraction. A month-on-month comparison points to a sharper deterioration than seen in the annual figures, as industrial production contracted a seasonally-adjusted 0.6% during the month, which was down from the 3.6% expansion tallied in June. Despite the moderation in annual figures, the trend continued to improve, with annual average growth in industrial production rising from 12.4% in June to 12.6% in July.