Ukraine: Industrial output tumbles at a quicker pace in February
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%.