Lithuania: Industrial production loses steam in April
Industrial production expanded 3.8% over the previous year in April, moderating from March’s revised 9.4% increase (previously reported: +8.8% year-on-year). The slowdown in April came on the back of a sharp double-digit contraction in the electricity, gas, steam and air conditioning supply sector, which had expanded over a quarter in March. In addition, the mining and quarrying sector continued to contract, albeit at a softer pace. Meanwhile, manufacturing production growth moderated somewhat in April but remained solid, whereas growth in water supply, sewerage, waste management and remediation activities accelerated in the month.
On a month-on-month basis, industrial production contracted 7.8% in seasonally- and calendar-adjusted terms in April (March: +2.0% month-on-month). Meanwhile, annual average industrial production growth rose to a five-month high of 7.0% in April from 6.8% in March.