Lithuania: Industrial production contracts for fourth consecutive month
March 21, 2014
In February, industrial production fell 2.3% over the same month last year. February's fall, which followed the 7.0% contraction recorded in January, was driven by a steep decline in the electricity, gas and steam sector as well as a drop in manufacturing. On a sequential basis, industrial production increased 2.5% over the previous month in seasonally-adjusted terms, which contrasted the 2.8% decrease registered in January. Annual average growth in industrial production fell from 2.5% in January to 2.2% in February. 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