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Financial News: Lithuania Industrial Production Grows In May

Lithuania Industrial Production Grows In May

06/23/2022 - 02:45:00 (RTTNews)

(RTTNews) - Lithuania's industrial production expanded in May, largely driven by a robust increase in electricity output, data from Statistics Lithuania showed on Thursday.

Industrial production climbed a working-day adjusted 4.3 percent year-on-year in May.

Production in the electricity sector alone surged 37.6 percent annually in May and manufacturing output registered an increase of 2.6 percent.

Excluding refined petroleum, manufacturing production advanced notably by 13.4 percent.

Among the major industrial groups, production of capital goods grew the most by 18.4 percent annually in May, and that of non-durable goods rose 13.1 percent.

Meanwhile, production of energy products registered a sharp decline of 29.4 percent.

On a monthly basis, industrial production declined a seasonally and working-day-adjusted 7.6 percent in May.

On an unadjusted basis, industrial production expanded 7.2 percent yearly in May, while it fell 6.1 percent from a month ago.

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