Macroeconomic Forecast Lithuania

BMI View: Industrial production increased by 11.8% y-o-y in the first four months of 2006, with manufacturing rising by 12.9% in response to growing orders from home and abroad. A number of key manufacturing sub-sectors performed well in the early part of the year, including food products and beverages, transport equipment, wood and wood products, and chemicals. Favourable base effects helped to push up early-year growth rates while overall expansion was held back by capacity constraints in the large refined petroleum products sector. We expect industrial output to grow by 7.9% this year compared to 7.3% in 2005.

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