Lithuania: Industrial production deteriorates further in July
August 22, 2016
In July, Lithuania’s industrial production decreased 3.8% over the same month last year. The reading followed the 1.8% contraction in June and was the largest drop since August 2014. According to the Statistical Institute, the decrease reflected a deterioration in manufacturing activities, electricity production and mining and quarrying output.
On a monthly basis, industrial production climbed a seasonally- and working-day adjusted 1.2% in July, which contrasted June’s 0.9% contraction. The overall trend worsened notably as annual average growth in industrial production fell from 3.7% in June to 3.0% in July.
Author: David Ampudia, Economist