Ukraine: Industrial production continues to fall in February
March 18, 2013
In February, industrial production dropped 6.0% over the same month last year, which marked a deterioration over the 3.2% fall recorded in January. The reading was largely driven by a sizable drop in electricity, gas and water.
A month-on-month comparison corroborates the decline suggested by the annual data, as industrial production fell 0.6% over the previous month in seasonally adjusted terms. The print, however, came in well above the 11.1% decrease tallied in January and marked the lowest contraction in the last four months.
FocusEconomics Consensus Forecast participants estimate industrial output to expand 2.5% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect industrial production to accelerate to 3.8%.