Ukraine: Industrial output continues to lose steam
March 22, 2012
In February, industrial production rose 1.6% over the same month last year. The reading came in below the 2.0% rise recorded in January and, in fact, represented the smallest increase since the industrial sector returned to growth in November 2009. The moderation was entirely driven by a 1.5% contraction in manufacturing, which contrasted the 1.2% increase seen in January. In contrast, the production and distribution of electricity and natural gas surged in February, while the mining sector maintained broadly the same pace. As a result of the subdued expansion, the trend continued to point downwards, with annual average growth in industrial production falling further from 6.4% in January to 5.6% in February.