Ukraine: Industrial production continues to contract in January
According to data released by the Statistical Institute, industrial production contracted 3.3% year-on-year in January, compared to a 3.5% drop in December. The result marked the third consecutive month of tumbling industrial production and reflected a contraction in mining and quarrying production as well as lower manufacturing output, which more than offset a mild expansion in the electricity, gas, steam and air conditioning supply sector.
Annual average growth in industrial output moderated again in January, clocking in at 0.5%, from 1.0% in December. Looking at sequential data, industrial production fell 13.8% month-on-month in January, deteriorating markedly from a relatively moderate 1.7% slip in the previous month.