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Ukraine GDP Q2 2018

Ukraine: Preliminary estimate points to accelerating growth in Q2

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.

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