Ukraine Industry January 2017


Ukraine: Industrial output rises in January

February 28, 2017

Industrial production in Ukraine continued to gain steam in January. According to data released by the State Statistics Service of Ukraine, industrial production rose 5.6% annually, which was above the 5.0% expansion recorded in December and marked a 10-month high. The result came on the back of strong growth in the manufacturing sector, which expanded nearly 10.0%.

The trend continued to improve in January and annual average growth in industrial output rose from December’s 2.8% to 3.4%, the best result since August 2012.

Sequential data suggested a more mixed picture for industrial production. In January, output fell a seasonally-adjusted 17.5% over the previous month, which notably contrasted the 2.1% growth in December.

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 3.2% in 2017, which is down 0.1 percentage points 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 January 2017

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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