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Ukraine Industrial production July 2020

Ukraine: Decline in industrial activity softens in July

Industrial production fell 4.2% over the same month last year in July, after it dropped 5.6% in June—marking the softest decline since February.

Looking at the details of the release, July’s weaker decline was driven by a rebound in utilities supply output and a less severe contraction of the mining and quarrying sector. Manufacturing production, however, declined at a sharper pace than in June.

Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.5%, down from June’s minus 5.0%.

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