Ukraine: Industrial activity takes its foot off the gas in July
August 28, 2017
According to data released by the State Statistics Service of Ukraine, industrial activity contracted 2.6% in July over the same month last year, a swing to the downside from June’s 3.8% increase.
Steep year-on-year contractions in the mining and quarrying, and electricity, gas, steam and air conditioning supply sectors acted as a drag on industrial activity in July. Manufacturing, by contrast, expanded compared to the same month last year. Although industrial output grew in most regions of the country in July, it continued to contract in others, particularly in the rebel-held eastern regions of Donetsk and Luhansk.
Sequential data showed tepid growth in industrial activity, with output rising a seasonally-adjusted 0.3% on a monthly basis (June: +0.1% month-on-month). Annual average growth in industrial output fell from 1.2% in June to 1.0% in July.
Author: Edward Gardner, Economist