Ukraine: Growth falls to near four-year low in Q4 2019
GDP growth fell to 1.5% year-on-year (yoy) in the fourth quarter of last year (Q3: +4.1% yoy), marking the slowest expansion since Q1 2016, according to a preliminary estimate by Ukraine’s Statistical Institute. On a quarter-on-quarter basis, the economy expanded 0.1%, down from 0.6% in Q3.
Although a comprehensive released is not yet available, a sizeable downturn in industrial production in Q4 appeared to be largely behind the slowdown. The record appreciation of the hryvnia in Q4 stifled competitiveness in international markets, against the backdrop of cooling global activity. In addition, the agricultural sector seemingly weighed on growth in Q4 as ahead-of-scheduled harvest dates for cereals and other crops hampered output.