Lithuanian industrial production growth rate eases minimally in June

Lithuanian industrial production growth rate eases minimally in June

By bne IntelliNews July 23, 2018

Lithuanian industrial production grew 5.1% y/y in June on a calendar-adjusted basis, according to data from Statistics Lithuania released on July 22.

The reading marks a minimal slowdown of the growth tempo in the Lithuanian industry after output expanded 5.2% in May. Still, June was the 22nd consecutive month of expansion in the sector, providing a solid footing for sustained GDP growth this year.

Economic growth came in at an adjusted 3.6% y/y in the first quarter, while unadjusted growth was 3.7% in annual terms, a second estimate showed on June 1. A first estimate of GDP in the second quarter is due on July 30.

In monthly seasonally and calendar-adjusted terms, industrial activity inched up 0.8% in June, while unadjusted data recorded growth of 2.6% y/y and 0.2% m/m. In nominal terms, Lithuanian industry turned out €1.9bn worth of product in June.

Adjusted annual growth in June owes to expansion in the manufacturing segment, which grew 5.9% y/y, a slight slowdown compared to an expansion of 6.3% y/y in May. The water supply, sewage treatment, and waste management segment saw production expand 8.3% on the year, compared to 2.9% y/y the preceding month.

Output in mining and quarrying declined 9.5% y/y, the fall accelerating on an expansion of 7.6% y/y in May. Output in the utility segment declined 5.4% y/y, compared to a fall of 6.2% y/y in the fifth month.

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