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Financial News: Lithuania Industrial Production Grows Sharply

Lithuania Industrial Production Grows Sharply

09/23/2022 - 03:39:00 (RTTNews)

(RTTNews) - Lithuania's industrial production expanded sharply in August, primarily driven by strong output growth in the power sector, data from Statistics Lithuania showed on Friday.

Industrial production climbed a working-day adjusted 14.4 percent year-on-year in August.

Production in the electricity sector alone jumped 99.3 percent annually in August, and output in the manufacturing sector grew 10.8 percent.

Meanwhile, production in the mining and quarrying sector plunged 16.4 percent.

Among the major industrial groups, production of energy products grew the most, by 33.9 percent, yearly in August, and that of capital goods rose 16.0 percent. Non-durable goods output was 12.5 percent higher compared to last year.

On a monthly basis, industrial production increased a seasonally and working-day-adjusted 3.1 percent in August.

On an unadjusted basis, industrial production grew 15.2 percent yearly and by 8.2 percent monthly in August.

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