Ukraine Industry


Industrial production pace of contraction slows in July

In July, industrial production declined 4.9% over the same month last year, which followed the sharper 5.7% drop seen in June. The decline, which reflected a severe contraction in the country's all-important manufacturing sector, marked twelve months of consecutive contraction. On a monthly basis, however, industrial production rose 5.1% over the previous month in seasonally adjusted terms, exceeding the 1.6% increase tallied in June.

As a result of July's annual contraction, the trend now points downwards. Annual average growth in industrial production fell from minus 3.8% in June to minus 4.4% in July, the lowest reading since April 2010.

FocusEconomics Consensus Forecast participants estimate that industrial output will expand 0.2% in 2013, which is down 0.9 percentage points from last month's forecast. For 2014, panellists expect industrial production to accelerate to 2.8%.


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Ukraine Industry Chart

Ukraine Industry July 2013

Note: Year-on-year and annual average variation of industrial production in %.
Source: State Statistics Service of Ukraine and FocusEconomics calculations.

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