Lithuania: Industrial output falls at sharpest rate since December 2023 in June
Industrial production dropped 4.5% year on year in June (May: +5.0% yoy). The outturn marked the worst reading since December 2023. Looking at the details of the release, manufacturing production and mining and quarrying output swung to contraction. Meanwhile, electricity, gas, steam and air conditioning production declined at a milder rate.
On a monthly basis, factory output decreased 2.1% in seasonally adjusted terms in June, which was greater than May’s 1.2% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.4%, contrasting May’s plus 0.9% reading.