Lithuania: Industrial production contracts again in December
January 22, 2014
In December, industrial production fell 3.1% over the same month of the previous year and followed the 3.4% contraction recorded in November. Expansions in three of the four main sectors of industrial activity were more than offset by a massive contraction in the electricity, gas and steam sector.
On a sequential basis, industrial production fell 0.8% over the previous month in seasonally-adjusted terms, up from the 3.5% decrease registered in November. Annual average growth in industrial production fell from 4.5% in November to 3.8% in December.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 7.1% this year, which is down 0.7 percentage points over last month's estimate. The panel expects industrial production to increase 7.8% in 2015.
Author: Carl Kelly, Economist