Lithuania: Industrial output growth moderates amid less favorable base effect in July
Industrial output increased 13.0% in year-on-year terms in July, moderating from June’s 21.2% increase. July’s result came amid a less favorable base effect and was largely driven by slower growth in manufacturing and mining and quarrying output.
On a monthly basis, industrial output dropped 2.0% in seasonally-adjusted terms in July, contrasting June’s 0.1% uptick and marking the worst result since April 2020. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 10.2% in July, up from June’s 9.0% reading.