Ukraine Industry November 2016


Ukraine: Industrial output picks up in November

December 23, 2016

Industrial production in Ukraine gained steam in November. According to data released by the State Statistics Service of Ukraine, industrial production rose 3.7% annually, which was above the 0.8% expansion recorded in October and marked an eight-month high. Growth was broad-based across the index and mining and quarrying output rebounded from the previous month’s fall. The trend continued to improve in November and annual average growth in industrial output rose from October’s 0.9% to 1.6%, the best result since September 2012.

Looking at the regions, a modest recovery was seen in the eastern areas of Donetsk and Luhansk, which both recorded growing industrial output. 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 bleaker picture for industrial production. In November, output rose a seasonally-adjusted 0.8%, which was notably below the 5.7% expansion in October.

Following a timid recovery in 2016 after a substantial contraction in 2015, analysts expect Ukraine’s industrial production to build on last year’s improvement this year. FocusEconomics Consensus Forecast participants project that industrial output will grow 3.1% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect industrial production to rise 3.9%.

Author: Angela Bouzanis, Lead Economist

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Ukraine Industry Chart

Ukraine Industry November 2016

Note: Year-on-year and annual average variation of industrial production in %.
Source: State Statistics Service of Ukraine and FocusEconomics calculations.

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