Industry in Lithuania
Lithuania - Industry
Industrial output shrinks at sharpest pace in over three years in August
Industrial production fell 2.6% year-on-year in August, contrasting July’s robust 6.9% expansion, and marking the strongest contraction in over three years, amid a broad-based deterioration.
The all-important manufacturing sector led the deterioration as output dipped in August following a healthy increase in July. On top of that, the contraction of the mining and quarrying sector sharpened considerably in August, while water supply, sewerage, waste management and remediation activities slipped into negative territory in the same month, compared to July’s strong expansion. Lastly, output growth in the electricity, gas, steam and air conditioning supply sector nearly halved from the previous month in August.
Similarly, on a month-on-month basis, industrial output fell 2.5% in seasonally and working-day adjusted terms in August, contrasting July’s 1.2% increase and marking the worst result since September 2018. Meanwhile, annual average growth in industrial production fell from 4.5% in July to over two-year-low of 4.0% in August.
Our panelists expect industrial production to expand 4.2% in 2019, down 0.1 percentage points from last month’s projection. For 2020, our panel expects output growth of 3.2%, down 0.2 percentage points from last month’s forecast.
Lithuania - Industry Data
|Industrial Production (annual variation in %)||3.5||0.0||4.4||2.9||6.9|
5 years of economic forecasts for more than 30 economic indicators.
Lithuania Industry Chart
Source: Statistics Lithuania and FocusEconomics calculations.
|Bond Yield||0.20||0.0 %||Sep 04|
|Stock Market||688||0.45 %||Sep 04|
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October 9, 2019
Consumer prices jump 0.9% month-on-month in September, contrasting August’s 0.4% contraction and marking the first increase in four months and the strongest one since March.
September 23, 2019
Industrial production fell 2.6% year-on-year in August, contrasting July’s robust 6.9% expansion, and marking the strongest contraction in over three years, amid a broad-based deterioration. The all-important manufacturing sector led the deterioration as output dipped in August following a healthy increase in July.
September 10, 2019
Consumer prices fell 0.4% month-on-month in August, following a milder 0.3% drop in July, and marking the strongest contraction so far this year. A breakdown of the sub-components provided by Statistics Lithuania showed that 5 of the total 12 sub-components saw a fall in prices, led by considerably lower prices for housing and utilities, which more than offset higher prices for alcoholic beverages and tobacco.
August 30, 2019
GDP increased 3.9% in year-on-year terms in the second quarter, according to detailed national accounts data released by Lithuania’s Statistical Institute on 30 August.
August 23, 2019
Industrial production jumped 6.9% in July, recovering vigorously from June’s 1.0% year-on-year contraction.