Lithuania: Industrial production continues to gain momentum at the outset of the year
April 23, 2012
In March, industrial production expanded 5.8% over the same month last year. The figure followed a 3.9% rise in February and marked, in fact, the fastest pace recorded in six months. The improvement was mainly due to a solid gain in manufacturing and a healthy rebound in the mining and quarrying sector. A month-on-month comparison corroborates the acceleration suggested by the annual figures, as industrial production increased 3.0% over the previous month in seasonally adjusted terms (February: -3.1% month-on-month). Despite the improvement seen in recent months, the trend continues to point downwards, with annual average growth in industrial production slowing from 5.6% in February to 5.0% in March.