Ukraine Industrial production November 2020

Ukraine

Ukraine: Industrial output falls at softest pace in over a year in November

December 23, 2020

Industrial production dipped 0.3% in November, improving notably from the previous month’s 5.0% contraction. The result marked the softest decline since September 2019. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and quarrying, and electricity, gas, steam and air conditioning supply sub-sectors all improving in November.

On a seasonally-adjusted monthly basis, factory output rebounded and rose 1.5% in November (October: -0.3% mom sa.). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 6.2% in November, up from October's minus 6.6%.

FocusEconomics Consensus Forecast panelists project that industrial output will rise 4.1% in 2021, which is up 0.5 percentage points from last month’s forecast, and 3.9% in 2022.


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Ukraine Industry November 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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