Ukraine: GDP picks up in Q2
July 27, 2012
In the second quarter, GDP increased 3.0% over the same period last year, according to preliminary estimates released by the National Statistics Institute on 27 July. The figure came in above the 2.0% rise observed in the first quarter and the 2.6% increase expected by Consensus Forecast panellists. GDP growth in the second quarter benefited from the Euro 2012 football championship, which was hosted by Ukraine and Poland. A quarter-on-quarter comparison corroborates the improvement suggested by the annual figures, as the economy expanded a seasonally adjusted 1.9% over the previous quarter, which contrasted the 0.3% drop observed in the first quarter. Revised and more complete data for GDP will be released in September. The Central Bank expects GDP to grow between 3.0% and 4.0% this year, while the government sees economic growth at 3.9%.