Lithuania Industrial Output Returns to Contraction in March

Analysis

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Industrial production in Lithuania fell 3.4% year-on-year in March, shifting from an eight-month high and upwardly revised 4.1% rise in the previous month, data released by the Vilnius-based Statistics Lithuania (LS) showed on Tuesday.

Output slowed sharply for mining & quarrying (17.5% vs 42.3% in February) and water supply (0.8% vs 3.7%), while it tumbled for manufacturing (-3% vs 5.5%).

On the other hand, output fell at a softer pace for electricity, gas, steam & air-conditioning supply (-9.8% vs -10.3%).

On a seasonally adjusted monthly basis, industrial production grew 3.2% in March, recovering from a downwardly revised 2.8% drop in the previous month.

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