FX.co ★ Lithuania Industrial Production Falls 0.4%

Lithuania experienced a decline in industrial output in October, primarily driven by a significant downturn in the utility sector, according to recent data released by Statistics Lithuania. The country's industrial production saw a slight 0.4 percent decrease on a working-day-adjusted basis compared to the previous year.

In particular, the electricity, gas, steam supply, and air conditioning sectors witnessed a significant annual drop of 16.5 percent in October. However, there was a notable upswing of 9.7 percent in the mining and quarrying sector. Meanwhile, manufacturing output recorded a modest increase of 0.9 percent.

Within the primary industrial categories, the output of energy products fell sharply by 21.1 percent year-on-year in October. Conversely, the production of intermediate goods experienced a growth of 7.9 percent.

Additionally, on a monthly comparison, industrial production saw a considerable decline of 7.5 percent when adjusted for seasonal and working-day variations.