Lithuania: Industrial production strengthens in April
May 23, 2012
In April, industrial production expanded 6.8% over the same month last year. The figure followed a 5.9% rise in March (previously reported: +5.8% year-on-year) and marked, in fact, the fastest pace recorded since September 2011. The improvement was mainly due to remarkable gains in manufacturing as well as in mining and quarrying. A month-on-month comparison does not fully corroborate the acceleration suggested by the annual figures, as industrial production added only 0.8% over the previous month in seasonally adjusted terms (March: +3.0% month-on-month). Despite the improvement seen in recent months, the trend continues to point downwards, with the annual average growth in industrial production inching down from 5.0% in March to 4.9% in April.