Lithuanian industrial production growth slowed in April to 4% y/y on an adjusted basis, according to data from Statistics Lithuania released on May 22.
The reading is below the gain of 4.6% registered in March and is the third consecutive month in which output growth decelerated. At 4%, however, industrial production is yet to display volatility that characterised much of last year; the expansion in April was the eighth straight month of growth.
With industry still going strong, the Lithuanian economy - which expanded 2.2% in 2016 - could be well positioned to beat last year’s result, in line with forecasts. Economic expansion is likely to push to 2.9% in 2017, according to the European Commission. The International Monetary Fund predicts 2.8%.
In monthly adjusted terms, activity contracted 0.6%, while unadjusted data recorded growth of 1.8% y/y and a drop of 12.1% m/m. In nominal terms, Lithuanian industry turned out product to the tune of €1.5bn in April, a decrease on €1.69bn the previous month.
The adjusted April growth owes to expansion across all sectors. Production in the manufacturing segment grew 3.4% on the year, while in mining and quarrying it expanded 16.2% y/y. Output in the utilities segment grew 8.1% y/y. There also was a growth of 1.1% y/y in water supply.