Industry in Lithuania
Lithuania - Industry
Industrial output contracts at the sharpest rate in over six years in April
Industrial production dived 10.9% year-on-year in April, worsening from the previous month’s 1.1% drop and marking the sharpest contraction since March 2014.
The downturn chiefly reflected sliding output in the all-important manufacturing sector. In a similar fashion, water supply, sewerage, waste management and remediation activities contracted at a steeper pace in April. That said, activity in both the mining and quarrying; and electricity, gas, steam and air conditioning supply sectors rebounded in April, softening the overall blow somewhat.
On a month-on-month basis, industrial output plunged 8.3% in seasonally- and working-day adjusted terms in April, contrasting a 0.7% increase in March and marking the largest drop in nearly eight years. Meanwhile, industrial production was flat in annual average terms, deteriorating from growth of 2.3% in March.
FocusEconomics panelists project industrial production to fall 6.8% in 2020, which is down 2.6 percentage points from last month’s projection. For 2021, our panel forecasts industrial output growth of 3.8%.
Lithuania - Industry Data
|Industrial Production (annual variation in %)||0.0||4.4||2.9||6.9||4.9|
5 years of economic forecasts for more than 30 economic indicators.
Lithuania Industry Chart
Source: Statistics Lithuania and FocusEconomics calculations.
|Bond Yield||0.43||0.0 %||Dec 30|
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June 1, 2020
Annual growth slumped to 2.4% in the first quarter, according to detailed national accounts data released by Statistics Lithuania on 1 June.
May 22, 2020
Industrial production dived 10.9% year-on-year in April, worsening from the previous month’s 1.1% drop and marking the sharpest contraction since March 2014. The downturn chiefly reflected sliding output in the all-important manufacturing sector.
April 30, 2020
GDP rose 2.6% in year-on-year terms in Q1 2020, according to preliminary national accounts data released by Lithuania’s Statistical Institute on 30 April.
April 23, 2020
Industrial production fell 1.5% year-on-year in March, contrasting a revised 3.4% expansion in February (previously reported: +2.4% year-on-year).
April 9, 2020
Consumer prices ticked down 0.1% on a month-on-month basis in March, matching February’s reading and marking the second consecutive month of contraction.