Ukraine Industrial production August 2020

Ukraine

Ukraine: Industrial output falls at a steeper pace in August

September 23, 2020

Industrial production declined 5.3% over the same month last year in August, more sharply than July’s 4.2% fall which had marked the softest drop since February.

Looking at the details of the release, August’s steeper decline was driven by a more sizeable contraction of manufacturing output and a swing to falling energy production. For its part, the mining and quarrying sector shrank at a softer pace compared to July.

Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.1%, down from July's minus 5.5%

FocusEconomics Consensus Forecast panelists project that industrial output will fall 6.8% in 2020, which is down 0.4 percentage points from last month’s forecast. For 2021, the panel sees industrial production rising 3.5%.


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Ukraine Industrial production Chart


Ukraine Industry August 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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