Lithuania: Industrial production growth slows in February
March 22, 2019
Industrial output rose 3.8% year-on-year in February, down from the 5.3% rise in January. The deceleration largely reflected a contraction in the electricity, gas, steam and air conditioning supply sector and softer output growth in the manufacturing sector, which more than offset a strong recovery in mining and quarrying production.
On a month-on-month basis, industrial output contracted 4.6% in seasonally and working-day adjusted terms in February, compared to a 0.1% dip in the previous month. Nevertheless, annual average growth in industrial production edged up to 4.7% in February, from 4.6% in the previous month.
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, Research Team Manager