Ukraine: Industrial output rises in October
November 26, 2018
According to data released by the Statistical Institute, industrial production rose 1.4% on an annual basis in October, swinging from a 1.3% drop in September. The result came on the heels of two consecutive months of contraction and reflected a strong jump in mining and quarrying output as well as a recovery in manufacturing production growth, which more than offset a marked drop in output in the electricity, gas, steam and air conditioning supply sector.
Annual average growth in industrial output remained stable at the previous month’s 1.5% in October. Looking at sequential data, industrial production rose 10.0% month-on-month in October, up from the 1.7% increase in September—the strongest reading in over five years.
Ukraine Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial output will grow 2.8% in 2019, which is down 0.4 percentage points from last month’s forecast. For 2020, the panel expects industrial production to rise 3.7%.
Author: Almanas Stanapedis, Economist