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Financial News: Lithuania Industrial Production Falls In October

Lithuania Industrial Production Falls In October

11/22/2019 - 02:57:00 (RTTNews)

(RTTNews) - Lithuania's industrial output decreased in October, led by a slump in energy production, preliminary figures from Statistics Lithuania showed on Friday.

Industrial production dropped a working-day adjusted 2 percent year-on-year, led by a 3.4 percent decrease in the output of the electricity, gas, steam and air conditioning sector.

In September, production rose 7.8 percent from a year ago, according to the preliminary figures.

Manufacturing output shrunk 1.9 percent and mining and quarrying production decreased 1.8 percent.

Excluding petroleum refining, manufacturing grew 2.4 percent.

Output in the water supply, sewerage, waste management and remediation industry grew 0.6 percent.

Among the major industry groups, energy production decreased 14.9 percent, intermediate goods output fell 2.4 percent and manufacture of consumer durables declined 5 percent.

Production of capital goods grew 17.8 percent and that of non-durable goods increased 5.5 percent.

Industrial production decreased a seasonally and working-day adjusted 2.3 percent from the previous month.

On an non-adjusted basis, industrial production fell 0.6 percent year-on-year, but rose 6.2 percent from September.

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