Ukraine: Industrial production contracts in December
January 25, 2019
According to data released by the Statistical Institute, industrial production fell 3.5% year-on-year in December, compared to a 0.9% drop November. The result reflected a marked contraction in manufacturing output, which more than offset an upturn in mining and quarrying production and strong output growth in the electricity, gas, steam and air conditioning supply sector.
Annual average growth in industrial output slowed to 1.0% in December, from 1.3% in November. Looking at sequential data, industrial production dropped 1.7% month-on-month in December, improving marginally from a 2.1% drop in the previous month.
Author: Almanas Stanapedis, Research Team Manager