Lithuania: Industrial production growth accelerates in January
February 22, 2013
In January, industrial production expanded a strong 9.3% over the same month last year, which nearly doubled the 4.9% rise observed in December. The acceleration was mainly driven by faster growth in manufacturing as well as a rebound in mining and quarrying.
On a monthly basis, industrial production rose 4.4% over the previous period in seasonally adjusted terms. Moreover, as a result of the faster annual increase, the trend continues to point upwards, with annual average growth in industrial production rising from 3.7% in December to 4.3% in January.
FocusEconomics Consensus Forecast panellists expect industrial production to expand 5.1% this year, which is up 0.3 percentage points over last month's estimate. For 2014, the panel anticipates industrial production to increase 6.5%.