Ukraine: Industrial production declines at a slower pace in October
November 22, 2013
In October, industrial production declined 4.9% over the same month last year, which marked an improvement over the 5.6% contraction recorded in September. Despite production in the electricity, gas and water category having registered the largest expansion in over a year, and the slight expansion in mining, the ongoing contraction in manufacturing kept total industrial production in negative figures.
On a monthly basis, industrial production increased a seasonally-adjusted 7.4% over the previous month, which contrasted September's 0.4% decline. Annual average growth in industrial production edged down from minus 4.8% in September to minus 5.0% in October, the lowest reading since April 2010; thus the trend continues to point downward.
FocusEconomics Consensus Forecast participants estimate that industrial output will contract 4.3% in 2013, which is down 2.0 percentage points from last month's forecast. For 2014, panelists expect industrial production to accelerate to 1.7%, which is down 0.6 percentage points from last month's estimate.