Ukraine: Industrial production falls for ninth month in a row
May 23, 2013
In April, industrial production declined 2.2% over the same month last year, which, nonetheless, marked an improvement over the 5.2% fall recorded in March. The reading, which marks a ninth consecutive contraction, was largely driven by a sizable drop in the manufacturing sector.
A month-on-month comparison corroborates the decline suggested by the annual data, as industrial production decreased 1.5% over the previous month in seasonally adjusted terms. The print contrasted the 11.0% jump tallied in March.
As a result of the annual contraction, the trend deteriorated as annual average growth fell from minus 2.0% in March to minus 2.3% in April.
FocusEconomics Consensus Forecast participants estimate industrial output to expand 0.8% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect industrial production to accelerate to 3.8%.