Lithuania's Industrial Production Falls 2.3% In February

(RTTNews) - Industrial production in Lithuania decreased notably in February, data published by Statistics Lithuania revealed Friday.

Industrial production decreased 2.3 percent in February from the corresponding month of last year. The deterioration was driven mainly by a 1.4 percent drop in manufacturing production.

An 8.4 percent fall in the output of electricity, gas, steam and air conditioning also contributed to the slump. Meanwhile, production in the mining and quarrying sector increased sharply by 15.3 percent.

On a monthly basis, industrial production increased a seasonally adjusted 2.5 percent during February, data showed.

Separately, the statistical office said residential property prices in Lithuania rose 2.6 percent sequentially in the December quarter, more than offsetting the 1.8 percent decline seen in the third quarter.

Year-on-year, house prices moved up 3 percent at the end of last year, following a 0.4 percent decrease in the September quarter.