Lithuania: Industrial production rises at a slower pace in June
July 21, 2011
In June, industrial production expanded 10.4% over the same month last year, which was down from the revised 13.5% rise recorded in May (previously reported: +12.8% year-on-year). That said, the sharp increase seen in June came despite the fading of a favourable base effect. Manufacturing, which accounts for the bulk of industrial production, slowed from a 16.0% expansion to a 10.7% increase in June. Mining and quarrying as well as water supply moderated over the previous month's reading, while electricity and gas recorded its first positive reading since February 2010. A month-on-month comparison corroborates the slowdown seen in the annual figures, as industrial production expanded a seasonally adjusted 3.6% during the month, which was down from the 5.1% expansion tallied in May. Despite the moderation in annual figures, the trend continued to improve, with annual average growth in industrial production rising from 11.9% in May to 12.4% in June.