Lithuania: Industrial output grows at fastest pace since August 2022 in July
Industrial output grew 11.1% year on year in July (June: -4.2% yoy). July’s figure marked the best reading since August 2022. Looking at the details of the release, July’s pickup was broad-based. Manufacturing and mining and quarrying production accelerated, while electricity, gas, steam and air conditioning activity contracted at a softer rate.
On a seasonally adjusted monthly basis, factory output rose 0.7% in July (June: -1.9% mom). Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at 3.0% in July, contrasting June’s minus 0.4%.