Ukraine: Industrial production continues sharp contraction in April
May 23, 2014
In April, industrial production fell 6.0% over the same month last year, which was above the 6.8% contraction observed in March, according to data released by the State Statistics Service of Ukraine. The sharp contractions were again recorded in mining and quarrying as well as in manufacturing. Conversely, electricity, gas and water expanded modestly in April, though not enough to offset the huge drops seen in the remaining categories.
On a monthly basis, industrial production contracted a seasonally-adjusted 1.0% in April, which contrasted the strong 7.4% expansion tallied in March. Annual average growth in industrial output edged down from March’s minus 4.4% to minus 4.8% in April and now sits at the lowest level since April 2010.