Lithuanian industrial production maintains growth track in June

Lithuanian industrial production maintains growth track in June
By bne IntelliNews July 24, 2017

Lithuanian industrial production growth slowed 0.5pp but maintained its steady track at 6.9% y/y in June, on a calendar-adjusted basis, according to data from Statistics Lithuania released on July 21.

The expansion in June marks the tenth straight month of growth. With the industry still going strong, the Lithuanian economy – which expanded 2.2% in 2016 and 4.1% in the first quarter – 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 seasonally and calendar-adjusted terms, industrial activity contracted 0.7% in June, while unadjusted data recorded growth of 10% y/y and 1.7% m/m. In nominal terms, Lithuanian industry turned out product to the tune of €1.7bn in the sixth month of the year, roughly the same as in May.

The seasonally and calendar-adjusted growth owes to expansion across all main sectors. Production in the manufacturing segment grew 6.8% on the year, while in mining and quarrying it expanded 31.2% y/y. Output in the utilities segment grew 7.4% y/y. There also was growth of 1.4% y/y in water supply.

 

Data

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