Lithuania: Industrial production rebounds sharply in August
September 21, 2016
In August, Lithuania’s industrial production rose 1.6% over the same month last year. The reading contrasted the 3.7% contraction in July, which had been the largest drop since August 2014. According to the Statistical Institute, the increase was broad-based, with mining and quarrying as well as manufacturing logging the largest increases.
On a monthly basis, industrial production declined a seasonally- and working-day adjusted 2.0% in August, which contrasted July’s 1.2% expansion. As a consequence of prolonged volatility in industrial production, the overall trend worsened notably in August, with annual average growth falling from 3.0% in July to 2.6%, the lowest reading in a year and a half.
Author: David Ampudia, Economist