Macroeconomic Forecast Lithuania

March 2007 | Macroeconomic Forecasts

Industrial production growth edged up modestly in 2006 to 7.3%, from 7.1%, but the increase would have been stronger but for a fire at the Mazeikiu refinery which contributed to a 1.4% contraction in output in Q406. Excluding refined petroleum products, industrial output increased by 13.8% in 2006 compared to 9.6% in 2005. We expect industrial production to increase by at least 7.5% in 2007, given robust domestic economic activity, supportive but weakening external demand, and favourable base effects.

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