Lithuania Industry August 2017

Lithuania

Lithuania: Industrial production soars in August

September 21, 2017

Lithuania’s industrial production jumped 12.5% year-on-year in August, a significant acceleration from July’s revised 4.5% expansion (previously reported: +4.1% year-on-year). August’s strong result came on the back of a broad-based expansion in all three industrial sectors, with the manufacturing and electricity, gas, steam and air conditioning sectors growing more than 10% and growth in the mining and quarrying sector skyrocketing over 50%.

A month-on-month comparison showed that industrial production expanded 3.2% in seasonally and calendar-adjusted terms (July: -0.9% month-on-month). The overall trend consequently continued to improve in August as annual average growth rose from 5.6% in July to a nearly four-year high of 6.3%.

Analysts surveyed by FocusEconomics expect industrial production to expand 4.8% in 2017, which is up 0.3 percentage points from last month’s projection. For 2018, the panel expects industrial output growth of 4.4%.


Author: Massimo Bassetti, Economist

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Lithuania Industry August 2017

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Lithuania and FocusEconomics calculations.


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