Lithuania: Industrial production contracts in December
January 23, 2012
In December, industrial production declined 2.1% over the same month the year before, which contrasted the revised 1.1% rise recorded in November (previously reported: +0.5% year-on-year). In fact, in December, industrial output contracted at the fastest pace since January 2010. The deterioration was broad-based as a majority of sub-components worsened over the previous month. A month-on-month comparison partially corroborates the deterioration suggested by the annual figures, as industrial production growth slowed compared to the previous month. In December, industrial production expanded a seasonally adjusted 0.5%, which was less than half of the 1.1% expansion recorded in November. In the full year 2011, industrial production expanded 7.6%, which was above the 6.6% rise recorded in 2010.