Lithuania: Industrial production growth picks up pace in May
Industrial production expanded 4.9% in May over the same month in the previous year, accelerating from April’s 3.8% year-on-year increase. The reading in May was largely driven by the manufacturing sector, as growth in manufacturing output kicked into a higher gear. Meanwhile, growth in the water supply, sewerage, waste management and remediation activities sector decelerated somewhat in May compared to the previous month. Conversely, and despite improving from April’s double-digit contractions, the mining and quarrying output; and the electricity, gas, steam and air conditioning supply sectors remained firmly in negative territory in May.
On a month-on-month basis, industrial production swung from a 7.9% contraction in April to a 11.6% expansion in May in seasonally- and calendar-adjusted terms. Meanwhile, annual average industrial production eased from a six-month high of 7.0% in April to 6.8% in May.