Industry in Lithuania

Lithuania Industry | Economic News & Forecasts

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

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)3.5  0.0  4.4  2.9  6.9  

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Lithuania Industry Chart


Lithuania Industry
Note: Annual variation of industrial production in %.
Source: Statistics Lithuania and FocusEconomics calculations.

Lithuania Facts

ValueChangeDate
Bond Yield0.200.0 %Sep 04
Stock Market6880.45 %Sep 04

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