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Ukraine Industrial production August 2020

Ukraine: Industrial output falls at a steeper pace in August

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%

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