Lithuanian industrial expectations fall 6 points in Q1Staff writer ▼ | January 21, 2016
Lithuania's industrial expectations index fell by six points in the first quarter of 2016 from a quarter ago to 63 points, the Lithuanian Industrialists' Confederation (LPK) said.
Lithuania The start of 2015 was a shock period
"Expectations declined in the first quarter of this year, but remain in the growth zone. Growth slowed down relatively due unfulfilled expectations as to trade in foreign markets, and a shortage of qualified workers and rising minimum wages, which led to a slowdown in the hiring of employees," Juozapas Preiksa, a LKP analyst, said at a news conference. The analyst said that the index was likely to rise this year.
"The start of 2015 was a shock period for businesses amid a fall in exports to the CIS and Eastern countries, euro adoption and ongoing active discussions on a new social model. But that uncertainty started to recede and industrial enterprises realized that things were not so bad. We expect the index to rise in the second quarter of this year," he said.
According to Preiksa, industrial enterprises this year expect prices for raw materials and products to stabilized and domestic consumption to remain on the upward trend.
According to LPK, enterprises in the chemical, manufacturing, food and beverages, and electronics industries have the highest expectations for export growth this year. ■