Lithuanian industrial production drops back into the red in April

Lithuanian industrial production drops back into the red in April
By bne IntelliNews May 23, 2016

Lithuanian industrial production fell an adjusted 1.2% y/y in April, according to data from Statistics Lithuania released on May 23. The contraction follows two months in which growth has slowed steadily following a strong start to the year.

In monthly terms, industrial production fell an adjusted 3.5%. The annual reading shows the erratic condition of industry in the Baltic state: in the last 12 months, output suffered declines in five, but also showed a tendency for sudden booms of over 10%, only to fade into decline a few months afterwards.
 
However, whilst base effects may be behind some of those swings, the April data clearly shows the fourth month of the year was weak for Lithuania's industry. On an unadjusted basis, annual production fell 2.3% in April, while unadjusted monthly output declined 8.7%. Output totalled €1.4bn in nominal terms, less than the €1.5bn in February.

Like the headline figure recently, the major sectors performed variably. Manufacturing output fell an adjusted 1.3% y/y and the electricity, gas, steam and air conditioning sector saw production trimmed by 2.1%. However, production in the mining and quarrying sector expanded 8.8%, and output in the water and waste management segment grew 1.8%.

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