Financial News: Lithuanian Industrial Output Grows 7.5%

Lithuanian Industrial Output Grows 7.5%

01/27/2025 - 06:08:00 (RTTNews)

(RTTNews) - Lithuania's industrial output expanded sharply in December, largely driven by strong growth in the manufacturing sector, data from Statistics Lithuania showed on Monday.

Industrial production rose a calendar-adjusted 7.5 percent year-on-year in December.

Production in the manufacturing sector alone grew 8.4 percent annually in December, and that in the mining and quarrying sector advanced 2.5 percent. Meanwhile, the utility output declined by 1.6 percent.

Among the major industrial groups, production of intermediate goods increased the most, by 19.2 percent, and that of capital goods surged by 16.8 percent.

On a monthly basis, industrial production rose seasonally and working-day-adjusted 2.2 percent in December.

Compared to 2023, total industrial production grew 4.1 percent in 2024, the agency said.

Separate official data showed that the annual sales growth in retail sales, excluding VAT, accelerated to 8.7 percent in December from 7.1 percent in November. On a monthly basis, sales expanded by 1.3 percent. In 2024, overall retail sales were 4.7 percent higher compared to 2023.

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