Lithuania: Industrial production contracts for third consecutive month
February 21, 2014
In January, industrial production fell 7.1% over the same month last year. January's fall, which followed the 3.0% contraction recorded in December, was driven by significant contractions in manufacturing as well as in the electricity, gas and steam sector.
On a sequential basis, industrial production fell 2.9% over the previous month in seasonally-adjusted terms, down from the 0.9% decrease registered in December. Annual average growth in industrial production fell from 3.8% in December to 2.5% in January.
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