Ukraine: Industrial production grows at the slowest pace in two years
November 15, 2011
In October, industrial output increased 4.7% over the same month last year, which came in well below the 6.4% expansion recorded in September and represented, in fact, the slowest pace of expansion in two years. The slowdown was mainly driven by slower growth in manufacturing, which dropped from a 6.5% expansion in the September to a 4.4% increase in October. Growth in the mining sector softened as well, whereas the production and distribution of electricity, natural gas and water accelerated somewhat compared to the previous month. Owing to the subdued monthly print, annual average industrial output growth dropped for the second month in a row, down from 9.1% in September to 8.6% in October.