Ukraine: Industrial output gains steam in January

According to data released by the Statistical Institute, industrial activity rose 3.6% in January over the same month last year, contrasting December’s revised flat growth (previously reported: -0.5% year-on-year). January’s expansion marked the strongest growth in seven months. The acceleration was chiefly due to strong growth in the manufacturing sector. In addition, output in the mining and quarrying sector grew robustly.

Sequential data revealed that industrial production contracted a massive 13.9% over the previous month in January, contrasting December’s modest 1.0% growth. Meanwhile, the trend pointed down and annual average growth in industrial output came in at 0.3% in January (December: +0.5%).

Ukraine Industrial Production Forecast

FocusEconomics Consensus Forecast participants project that industrial output will grow 2.9% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect industrial production to rise 3.1%.