Lithuania: Industrial production increases sharply in September
October 21, 2016
In September, Lithuania’s industrial production rose a noteworthy 8.0% from the same month last year, the highest reading in eight months. The figure was markedly above the 3.0% expansion logged in August. According to the Statistical Institute, the rise was the result of large increases in mining, quarrying and manufacturing output. Conversely, production of electricity, gas and steam as well as water supply dropped slightly.
On a monthly basis, industrial production climbed a seasonally- and working-day adjusted 3.0% in September, which contrasted August’s 2.0% decrease. Despite ongoing volatility in industrial output readings, the overall trend improved notably in September, with annual average growth rising from 2.7% in August to 3.3%.
Author: David Ampudia, Economist