Ukraine: Contraction in industrial production eases in May
June 23, 2014
In May, industrial production fell 2.1% over the same month last year, which was above the 6.0% contraction observed in April according to data released by the State Statistics Service of Ukraine. Sharp contractions were again recorded in mining and quarrying as well as in manufacturing. Conversely, electricity, gas and water expanded strongly in May, though not enough to offset the huge drops recorded in the remaining categories.
On a monthly basis, industrial production contracted a seasonally-adjusted 1.6% in May, which was down from the 1.0% decrease tallied in April. Annual average growth in industrial output edged up from April’s minus 4.8% to minus 4.2% in May.