Lithuania: Industrial production rises most in 21 months
November 21, 2012
In October, industrial production expanded 14.4% over the same month last year, which was above the 4.2% rise observed in September. In fact, the reading represented the fastest pace of expansion observed since January 2011. The improvement was mainly driven by faster growth in manufacturing, mining and quarrying as well as a rebound in water supply. On a monthly basis, however, industrial production fell 0.4% over the previous month in seasonally adjusted terms (September: -1.7% month-on-month). As a result of the faster annual increase, the trend is now pointing upwards, with annual average growth in industrial production rising from 1.9% in September to 3.2% in October.