Lithuanian industrial production accelerates in November

Lithuanian industrial production accelerates in November
By bne IntelliNews December 22, 2016

Lithuanian industrial production expanded an adjusted 1.6% y/y in November, according to data from Statistics Lithuania released on December 21.

The growth comes after output barely moved in October, growing just 0.1%, and extends the growth period in Lithuanian industry to three months, after four months of decline. Still, the November expansion remains unimpressive and gives ground to worries about the GDP performance of the Baltic state. 

Lithuanian GDP growth came in at 1.7% y/y in the third quarter, marking a slowdown compared to a revised 1.9% for the first quarter. It was the second consecutive quarter of slowing GDP growth.
In monthly terms, industrial production grew an adjusted 1.1% in October. On an unadjusted basis, annual production grew 2.3% in the tenth month of the year, while unadjusted monthly output advanced 2.6%. Output totalled €1.68bn in nominal terms, slightly more than €1.6bn in the previous month.

Most sectors saw output increase on an adjusted annual basis in November. Manufacturing output expanded 1.6%, while production in the mining and quarrying segment grew 3.7%. The output in the electricity, gas, steam and air conditioning sector increased 2.2%. Only production in the water and waste management declined, by 1.7%.

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