Ukraine: Preliminary estimate points to accelerating growth in Q2
August 14, 2018
According to preliminary data released by the State Statistics Service of Ukraine on 14 August, the Ukrainian economy shifted into a higher gear in the second quarter. GDP rose 3.6% year-on-year in Q2, up from 3.1% in Q1, marking the strongest expansion since Q4 2016.
Although the breakdown by components is not yet available, the expansion in the second quarter appears to have been broad-based. Improved labor dynamics, coupled with easing inflationary pressures and higher consumer lending, likely bolstered private consumption in Q2, while healthy external conditions helped export growth to accelerate to a one-year high in the quarter.
On a quarter-on-quarter basis, the economy expanded a seasonally-adjusted 0.9% in the second quarter, unchanged from the previous quarter’s result.
Author: Almanas Stanapedis, Economist