Ukraine: Industrial output contracts in December
January 26, 2018
According to data released by the Statistical Institute, industrial activity fell 0.5% in December over the same month of 2016, reverting to contractionary territory after expansions of 0.3% and 0.4% in November and October, respectively.
Whereas the manufacturing sector performed robustly in December, growing 4.4% year-on-year, diminishing mining and quarrying output coupled with plummeting electricity, gas, steam and air conditioning supply drove the overall result into negative territory.
Nevertheless, sequential data points to slightly healthier industrial activity in December, with output rising a seasonally-adjusted 1.0% from the previous month, above November’s modest 0.3% increase. Meanwhile, annual average growth in industrial output turned negative for the first time since July 2016, coming in at minus 0.4% in December compared to plus 0.1% in November.
Author: Almanas Stanapedis, Economist