Lithuania: Industrial production growth stumbles in July
August 22, 2017
Lithuania’s industrial production rose 4.1% year-on-year in July, a significant deceleration from June’s revised 11.2% expansion (previously reported: +10.0% year-on-year). July’s weaker result was due to a more subdued performance in both the mining and quarrying, and manufacturing sectors compared to June. However, growth in the electricity, gas, steam and air conditioning supply sector gained speed.
A month-on-month comparison showed that industrial production declined 0.9% in seasonally and calendar-adjusted terms (June: -0.7% month-on-month). The overall trend nevertheless continued to improve in July as annual average growth rose from 4.9% in June to a 16-month high of 5.5% in July.
Author: Edward Gardner, Economist