Lithuania: Industrial production recovers some lost ground in November
December 21, 2016
In November, Lithuania’s industrial production rose 2.3% from the same month last year, contrasting October’s revised 2.4% decline (previously reported: -2.6% year-on-year). According to the Statistical Institute, the rebound reflected a recovery in manufacturing and mining and quarrying output, which more than offset a deceleration in electricity, gas and steam production and a decline in water supply, which hit a 19-month low.
On a monthly basis, industrial production climbed a seasonally- and working-day adjusted 1.1% in November, which was markedly below October’s 2.8% increase. Despite the stronger annual reading, the overall trend deteriorated in October, with annual average growth easing to 2.5% from 2.7% in October—an almost two-year low.
Author: David Ampudia, Economist