Ukraine: Industrial production posts growth for second consecutive month
April 26, 2016
In March, industrial production increased 4.8% over the same month last year, according to data released by the State Statistics Service of Ukraine. The result followed February’s notable 7.6% expansion, which had marked the first growth since July 2012. Growth was nearly broad-based, with expansions tallied in manufacturing as well as in mining and quarrying.
Ukraine’s industrial output has been plagued by the ongoing crisis between the Ukrainian government and pro-Russian separatist groups, which is centered in the eastern regions of Luhansk and Donetsk, Ukraine’s industrial heartland. However, data has begun to turnaround at the start of 2016, although largely due to the low base from last year. In March, industrial production expanded significantly in Luhansk and Donetsk.
On a monthly basis, industrial production expanded a seasonally-adjusted 6.8%, which followed February’s 8.2% increase. The trend continued to improve and annual average variation in industrial output in March rose from February’s minus 8.7% to minus 6.7%.