Ukraine: GDP contracts for fourth consecutive quarter in Q2
July 30, 2013
In the second quarter, GDP decreased 1.1% over the same period last year, according to preliminary estimates released by the National Statistics Institute on 30 July. The figure matched the drop recorded in the first quarter, marking the fourth consecutive contraction in output. The contraction was in line with last month's FocusEconomics consensus forecast.
On a quarter-on-quarter basis, the economy contracted 0.4% in seasonally adjusted terms, which contrasted the 0.6% expansion recorded in the previous quarter. Revised and more complete GDP data will be released on 18 September.
Consensus Forecast participants see the economy growing 1.4% in 2013, which is down 0.2 percentage points from last month's forecast. Panellists expect the economy to grow 3.5% in 2014.