Ukraine: Industrial output accelerates in July
August 27, 2018
According to data released by the Statistical Institute, industrial production increased 2.9% year-on-year in July, up from 2.2% in June. The uptick came on the back of a marked improvement in the mining and quarrying sector: Production returned to growth in July following a contraction in June. Meanwhile, manufacturing output rose modestly in July, decelerating slightly from the previous month.
Annual average growth in industrial output soared to a 17-month high of 1.9% in July, from 1.5% in June. Meanwhile, looking at sequential data, industrial production increased 1.4% month-on-month in July, notably above the previous month’s near-flat reading (June: +0.2 month-on-month).
Ukraine Industrial Production Forecast
FocusEconomics Consensus Forecast participants project that industrial output will grow 2.9% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, panelists expect industrial production to rise 3.2%.
Author: Almanas Stanapedis, Economist