Ukraine Industry July 2017

Ukraine

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.

FocusEconomics Consensus Forecast participants project that industrial output will grow 0.9% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, panelists expect industrial production to rise 3.4%.


Author:, Economist

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Ukraine Industry July 2017 1

Note: Year-on-year and annual average variation of industrial production in %.
Source: State Statistics Service of Ukraine and FocusEconomics calculations.


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