Lithuania: Industrial production stalls in October
November 21, 2013
In October, industrial production was flat over the same month last year, which contrasted the revised 1.3% expansion recorded in September (previously reported: +0.4% year-on-year). The flat reading reflects that growth in mining and quarrying, as well as in manufacturing, was offset by a contraction in electricity, gas and steam.
On a sequential basis, industrial production increased 2.2% over the previous month in seasonally-adjusted terms, contrasting the 0.6% decrease registered in September. Annual average growth in industrial production fell from 6.4% in September to 5.3% in October.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 5.1% this year, which is up 1.0 percentage points over last month's estimate. The panel expects industrial production to increase 7.8% in 2014, which is up 1.1 percentage points from last month's forecast.
Author: Carl Kelly, Economist