Lithuania Industry September 2018

Lithuania

Lithuania: Industrial production contracts for the first time in nearly two years in September

October 23, 2018

Industrial output fell 2.5% year-on-year in September, swinging from a healthy 3.8% expansion in August (previously reported: +3.5% year-on-year). The print marked the first contraction since October 2016 and the worst result in over two years.

September’s result came on the back of a fall in manufacturing production, the first drop in 23 months, driven by lower output of petroleum products. In line with the weak performance of the manufacturing sector, mining and quarrying output, as well as electricity, gas, steam and air conditioning supply, also contracted in annual terms in September.

On a month-on-month basis, industrial output dipped 3.3% in seasonally and working-day adjusted terms in September, compared to a 1.4% increase in August. Meanwhile, annual average growth edged down to a 15-month low of 5.0% in September, from 5.6% in August.

Our panelists expect industrial production to expand 4.1% in 2019, unchanged from last month’s projection. For 2020, they expect output growth of 3.4%.


Author:, Economist

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Lithuania Industry September 2018

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Lithuania and FocusEconomics calculations.


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