Lithuania: Industrial production slows in August
September 23, 2013
In August, industrial production contracted 2.8% over the same month last year, contrasting the revised 2.1% increase recorded in July (previously reported: +3.0% year-on-year). The slowdown in August reflects that the contraction in electricity, gas and steam as well as in manufacturing offset growth in mining and quarrying.
On a sequential basis, industrial production jumped 3.4% over the previous month in seasonally-adjusted terms, which was slightly above June's 3.3% increase. Annual average growth in industrial production fell down from 7.8% in July to 6.7% in August.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.4% this year, which is down 0.1 percentage points over last month's estimate. The panel expects that industrial production to increase 6.4% in 2014.
Author: Carl Kelly, Economist