Lithuania: Industrial production picks up in August
September 22, 2011
In August, industrial production grew 6.6% over the same month last year, which was up from the revised 5.7% increase recorded in July (previously reported: +6.8% year-on-year). Manufacturing jumped from a 6.7% increase to an 8.4% expansion in August. Mining and quarrying as well as electricity and gas continued to trend downwards, while water supply improved. A month-on-month comparison does not corroborate the improvement seen in the annual figures, as industrial production declined a seasonally adjusted 0.1% in August, which was nevertheless up from the 0.6% contraction tallied in July. Despite the expansion recorded in annual figures, the trend deteriorated for the first time since January 2010, with annual average growth in industrial production slowing from 12.6% in July to 11.5% in August.