Lithuania: Industrial production slows in June
July 22, 2013
In June, industrial production expanded 0.9% over the same month last year, which was well below the whopping 23.3% increase observed in May. The result mainly reflected slower growth in manufacturing as well as in mining and quarrying.
On a monthly basis, industrial production edged up 0.6% over the previous period in seasonally adjusted terms, which contrasted the 6.3% decrease tallied in May. Despite the slower annual increase, the trend points upwards; annual average growth in industrial production rose from 7.8% in May to 8.0% in June.
FocusEconomics Consensus Forecast panellists expect industrial production to expand 4.4% this year, which is down 0.1 percentage points over last month's estimate. The panel anticipates industrial production to increase 6.4% in 2014.