Lithuania: Industrial production gains speed in December, subcomponents paint a mixed picture
January 23, 2017
In December, Lithuania’s industrial production rose a sizeable 6.3% from the same month last year, a notable improvement over November’s revised 2.1% increase (previously reported: +2.3% year-on-year). According to the Statistical Institute, the result stemmed from stronger output growth in mining and quarrying and manufacturing, with the latter growing at the fastest pace in a year and a half. Growth in these two subcomponents more than offset a severe downswing in output of electricity, gas and steam and water supply.
On a monthly basis, industrial production climbed a seasonally- and working-day adjusted 1.1% in December, which mirrored November’s reading. The overall trend improved in December, with annual average growth picking up to 2.4% from 2.3% in November.
Author: David Ampudia, Economist