Ukraine: Growth softens in the third quarter
November 15, 2010
In the third quarter, gross domestic product (GDP) grew 3.5% over the same quarter last year, according to a preliminary estimate released by the National Statistics Institute on 15 November. The figure nearly halved the previous quarter's 5.9% expansion and came in slightly below market expectations, which had the economy growing 3.7%. A quarter-on-quarter comparison further corroborates the notion of a marked deceleration, as the economy increased only 0.1% over the previous quarter in seasonally adjusted terms (+3.9% quarter-on-quarter). The economy is expected to recover slowly, following last year's 15.1% contraction, and overall output is not expected to return to pre-crisis levels until 2013. In fact, the government projects the economy to grow 3.7% this year and 4.5% next year.