Lithuania: Industrial production drops in November
December 23, 2013
In November 2013, industrial production fell 3.8% over the same month of the previous year, which contrasted the 1.1% expansion recorded in October. The negative reading was broad-based; three of the four main sectors of industrial activity contracted in November, with the largest drop recorded in electricity, gas and steam.
On a sequential basis, industrial production fell 3.4% over the previous month in seasonally-adjusted terms, contrasting the 3.0% increase registered in October. Annual average growth in industrial production fell from 5.4% in October to 4.4% in November.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 7.8% this year, which is unchanged over last month's estimate. The panel expects industrial production to increase 7.3% in 2015.
Author: Armando Ciccarelli, Head of Data Solutions