Ukraine: Industrial output drops in September

According to data released by the State Statistics Service of Ukraine, industrial activity contracted 0.3% in September over the same month last year, contrasting August’s 1.2% expansion. The fall was due to a drop in mining and quarrying output along with a fall in the production of electricity, gas, steam and air conditioning.

Sequential data confirmed a weakening in industrial activity, with output rising a seasonally-adjusted 2.5% on a monthly basis in September, below August’s 3.0% increase. Annual average growth in industrial output fell from 0.8% in August to 0.5% in September.

FocusEconomics Consensus Forecast participants project that industrial output will grow 3.2% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, panelists expect industrial production to rise 3.4%.