Lithuanian industrial production growth stalls in October

Lithuanian industrial production growth stalls in October
By bne IntelliNews November 21, 2016

Lithuanian industrial production expanded an adjusted 0.1% y/y in October, according to data from Statistics Lithuania released on November 21.

The minimal growth comes after September’s jump of 7.8% and – even if only just – extends a growth period in Lithuanian industry to two months, after four months of decline. The waning tempo of growth brings back worries about 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 2.8% in October. On an unadjusted basis, annual production decreased 2.6% in the tenth month of the year, while unadjusted monthly output advanced 0.3%. Output totalled €1.6bn in nominal terms, the same as in the previous month.

Most sectors saw output decrease on an adjusted annual basis in October. Manufacturing output fell 0.4%, while production in the mining and quarrying segment contracted 4.7%. The output in the water and waste management segment fell 0.1%. Only production in the electricity, gas, steam and air conditioning sector saw production grow, by 6.4%.

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