Financial News: Lithuania Industrial Production Falls 0.4%

Lithuania Industrial Production Falls 0.4%

11/22/2024 - 03:26:00 (RTTNews)

(RTTNews) - Lithuania's industrial output decreased in October due to a sharp contraction in the utility sector, data from Statistics Lithuania showed on Friday.

Industrial production fell a working-day-adjusted 0.4 percent year-on-year in October.

Production in the electricity, gas, steam supply, and air conditioning segments alone slumped by 16.5 percent annually in October, while that in the mining and quarrying sector advanced 9.7 percent. Manufacturing output logged an increase of 0.9 percent.

Among the major industrial groups, production of energy products plunged 21.1 percent yearly in October, while that of intermediate goods rose by 7.9 percent.

On a monthly basis, industrial production declined markedly by a seasonally and working-day-adjusted 7.5 percent.

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