Ukraine: Industrial production maintains resilient pace of growth
November 18, 2010
The industrial sector continues to expand at a solid pace, well ahead of the general economic recovery. In October, industrial production increased 10.2% over the same month last year, which mirrored September's figure but overshot market expectations of an 8.7% increase. The reading was the result of slower growth in the manufacturing sector, which was offset by higher output in the remaining categories. Manufacturing moderated to an 11.7% year-on-year increase, which was down from the 14.5% expansion tallied in September. In contrast, mining output recovered from a flat reading in September to a 2.8% increase in October, while the production and distribution of electricity, natural gas and water soared to a 13.2% expansion (September: +3.0% % yoy). As a result of the strong monthly reading, annual average growth in industrial output continued to improve, rising from 8.8% in September to 10.2% in October.