Ukraine: Industrial production declines at slowest pace since July 2012
January 23, 2014
In December, industrial production declined 0.5% over the same month of the previous year, which marked an improvement over the 4.7% contraction recorded in November. The improvement was driven by growth in the mining sector, which expanded at the fastest pace since November 2011, as well as by a smaller contraction in manufacturing output. Production in electricity, gas and water worsened in December.
On a monthly basis, industrial production expanded a seasonally-adjusted 0.1% over the previous month, which contrasted November's 2.6% contraction. In the full year 2013, industrial production contracted 4.7%, which marked a strong deterioration over the 0.5% contraction tallied in 2012.
FocusEconomics Consensus Forecast participants estimate that industrial output will expand 2.0% in 2014, which is up 0.1 percentage points from last month's forecast. For 2015, panelists expect industrial production to accelerate to 3.1%.