Lithuania: Industrial production growth moderates in February
March 23, 2018
Industrial production in Lithuania increased 1.9% in February in annual terms, a marked slowdown from January’s 6.9% jump (previously reported: +7.5%). The slowdown was due to a significant contraction in the mining and quarrying sector, which fell nearly a quarter year-on-year. Meanwhile, the electricity, gas, steam and air conditioning supply; and manufacturing (except for the manufacture of refined petroleum products) sectors were the key drivers of industrial production growth in February.
On a monthly basis, industrial production contracted 3.9% in seasonally- and calendar-adjusted terms (January: -1.1% month-on-month). In turn, annual average growth fell to 6.5% in February, compared to the 6.7% figure in the previous month.
Lithuania Industrial Production Forecast
Analysts surveyed by FocusEconomics expect industrial production to expand 4.8% in 2018, which is unchanged from last month’s projection. For 2019, the panel expects industrial output growth of 4.1%.
Author: Almanas Stanapedis, Research Team Manager