Ukraine: Industrial output decelerates in October
November 25, 2016
Industrial production in Ukraine lost steam in October. According to data released by the State Statistics Service of Ukraine, industrial production rose 0.8% annually, which was below the 2.0% expansion recorded in September. Mining and quarrying output contracted, weighing on industrial production. The trend continued to improve in October and hit a four-year high. Annual average growth in industrial output rose from September’s 0.5% to 0.9%.
Looking at the regions, the recovery in the eastern area of Luhansk continued and output grew at a double-digit pace. However, production in Donetsk fell for the second consecutive month. Donetsk and Luhansk are Ukraine’s industrial heartland and have been at the center of the conflict between the Ukrainian government and pro-Russian separatist groups.
Sequential data suggested a brighter picture for industrial production. In October, output rose a seasonally-adjusted 5.7%, which followed the 4.4% expansion in September.