Lithuania: Industrial production growth accelerates in January
February 21, 2019
Industrial output rose 5.3% year-on-year in January, up from the 1.0% rise in December, largely reflecting healthy output growth in the manufacturing sector. This, coupled with robust growth in the electricity, gas, steam and air conditioning supply sector and a rebound in mining and quarrying production, more than offset a contraction in water supply, sewage, waste management and remediation activities.
On a month-on-month basis, industrial output contracted 0.1% in seasonally and working-day adjusted terms in January, compared to a 1.2% increase in the previous month. Meanwhile, annual average growth in industrial production edged up to 4.9% in January, from 4.8% in the previous month, which had marked an 18-month low.
Lithuania Industrial Production Forecast
Our panelists expect industrial production to expand 4.1% in 2019, unchanged from last month’s projection. For 2020, our panel expects output growth of 3.4%.
Author: Almanas Stanapedis, Economist