Lithuania: Industrial production contracts in June
July 21, 2016
In June, Lithuania’s industrial production contracted 2.3% over the same month last year. The reading marked a return to contraction following the 2.6% increase tallied in May. According to the Statistical Institute, the decrease reflected a downturn in manufacturing, as well as in water supply, sewerage and waste management activities.
On a monthly basis, industrial production decreased a seasonally- and working-day adjusted 1.0% in June, which contrasted May’s 3.8% expansion. The overall trend worsened as annual average growth in industrial production fell from 4.9% in May to 3.7% in June.
Author: Christopher Mc Innes, Economist