Ukraine Industrial production February 2021

Ukraine

Ukraine: Industrial output tumbles at a quicker pace in February

March 26, 2021

Industrial production declined 4.6% year-on-year in February, dropping at a sharper rate than January’s 4.0%, and logging the worst contraction in eight months. February’s downturn was driven by a broad-based deterioration across all sub-components of the index: Both mining and quarrying, and manufacturing output tumbled at stronger clip, while utilities supply output grew at a weaker rate compared to January.

On a seasonally-adjusted monthly basis, factory output bounced back, growing 0.4% in February, contrasting January’s 3.2% slide. Meanwhile, the trend deteriorated, with the annual average variation of industrial production coming in at minus 4.7% in February, below January’s minus 4.4%.

FocusEconomics Consensus Forecast panelists project that industrial output will rise 4.0% in 2021, which is up 0.2 percentage points from last month’s forecast, and 3.2% in 2022.


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Ukraine Industrial production Chart


Ukraine Industry February 2021

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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