Ukraine: GDP slows down sharply in Q1
April 28, 2012
In the first quarter, GDP increased 1.8% over the same period last year, according to preliminary estimates released by the National Statistics Institute on 28 April. The figure came in well below the 4.7% expansion recorded in the final quarter of 2011 and also undershot market expectations of a 2.5% increase. A quarter-on-quarter comparison corroborates the deterioration suggested by the annual figures, as the economy contracted a seasonally adjusted 0.3% over the previous quarter, which contrasted the 0.6% increase observed in the fourth quarter. Revised and more complete data for GDP will be released in June. The Central Bank expects GDP to grow between 3.0% and 4.0% this year, while the government sees economic growth at 3.9%.