Lithuania: Industrial production contracts in April
May 23, 2016
In April, industrial production contracted 2.3% over the same month last year. April’s reading marked a substantial deterioration over the 4.7% increase tallied in March and was the first drop since January 2015. Looking at the details, the contraction reflected deteriorations in manufacturing production as well as in electricity, gas and steam supply, which more than offset a surge in mining and quarrying output.
On a monthly basis, industrial production decreased a seasonally- and working-day adjusted 2.7% in April, which followed March’s 3.5% contraction.
Following April’s tally, the trend continues to point downward. Annual average growth in industrial production fell from 5.2% in March to 4.8% in April.
Author: David Ampudia, Economist