Business tendencies in Lithuania’s industrial sector worsen

35 percent of the polled directors intended to increase production in their companies, while 17 percent said they will reduce production. In April the figures were at 50 and 7 percent respectively.

Export forecast also deteriorated: 27 percent of company directors projected export growth, while 12 percent projected export reduction, compared to 35 and 5 percent respectively in April.

78 percent of respondents said they had no plans to change the number of employees, while 17 percent planned to hire more staff.

In May industrial production trends remained similar as in April: 28 percent of respondents said that production increased, 15 percent said it decreased, compared to 29 and 15 percent respectively in April. However demand for products has dropped, 25 percent of the polled said demand has increased, while 19 percent said it decreased. In April, 30 percent said demand for products increased, while 14 percent said it increased.

In May compared to April, the Economic Sentiment Indicator fell by 3 percentage points and stood at minus 5. The Industrial Confidence Indicator in May fell by 9 percentage points.

In May 2015 compared to May 2014, the Economic Sentiment Indicator fell by 2 percentage points while the Industrial Confidence Indicator fell by 4 percentage points.