Ukraine Industrial production October 2020

Ukraine

Ukraine: Decline in industrial output sharpens in October

November 23, 2020

Industrial production declined 5.0% over the same month last year in October, sharper than September’s 4.4% slump and marking 13 consecutive months of falling output.

Looking at the details of the release, October’s result reflected a steeper downturn in manufacturing and utilities supply output. In contrast, production in the mining and quarrying sector declined at a softer pace compared to September.

Meanwhile, the trend continued to deteriorate, with the annual average variation of industrial production coming in at minus 6.7%, down from September's minus 6.5%.

FocusEconomics Consensus Forecast panelists project industrial output to increase 6.6% in 2021, which is down 0.1 percentage points from last month’s forecast, and 3.6% in 2022.


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Ukraine Industrial production Chart


Ukraine Industry October 20 20

Note: Year-on-year changes and annual average growth of industrial production in %.
Source: State Statistics Service of Ukraine and FocusEconomics calculations.


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