Lithuanian industrial production ends two-year growth series in September

Lithuanian industrial production ends two-year growth series in September
By bne IntelliNews October 23, 2018

Lithuanian industrial production fell 0.5% y/y in September on a calendar-adjusted basis, according to data from Statistics Lithuania released on October 23.

The reading is the first fall in output after two years of uninterrupted expansion, hinting at weaker economic growth in the fourth quarter. Economic growth came in at an adjusted 3.8% y/y in the second quarter, while unadjusted growth was 3.8% in annual terms. An early estimate of GDP growth in the third quarter is due on October 30. 

In monthly seasonally and calendar-adjusted terms, industrial activity retreated 3.3% in September, while unadjusted data recorded falls of 2.5% y/y and 5.7% m/m. In nominal terms, Lithuanian industry turned out €1.9bn worth of product in September.

The adjusted annual fall in September owes to production contracting 0.2% y/y in the most-weighted manufacturing segment, compared to a growth of 4.2% y/y in August. Output in the utility segment also fell, at 6.1% y/y; that compares to a reduction of 4.6% y/y in August.

The water supply, sewage treatment, and waste management segment saw production grow 5.7% on the year in September, compared to 3.8% y/y the preceding month. 

Output in mining and quarrying declined 6.6% y/y in September, the fall’s rate slowing down slightly compared to a drop of 7.5% y/y in August.