Ukraine Industrial production December 2020


Ukraine: Industrial output increases for first time in over one year in December

January 22, 2021

Industrial production jumped 4.8% in December, rebounding strongly from November’s 0.3% slip and marking the first increase in output since September 2019. The result reflected a broad-based improvement across all sub-components of the index. Notably, manufacturing output bounced back to growth in December, while production in mining and quarrying, and utilities supply quickened compared to November.

On a seasonally-adjusted monthly basis, factory output rose 1.1% in December, moderating from November’s 1.5% increase. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 5.2% in December, up from November’s minus 6.2%.

FocusEconomics Consensus Forecast panelists project that industrial output will rise 4.0% in 2021, which is up 0.5 percentage points from last month’s forecast, and 3.6% in 2022.


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Ukraine Industrial production Chart

Ukraine Industry December 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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