Ukraine: Economy gathers momentum in the first quarter
May 16, 2011
In the first quarter, GDP expanded a strong 5.2% over the same quarter last year according to preliminary estimates released by the National Statistics Institute on 16 May. The robust print overshot both the previous quarter's 3.3% expansion and last month's Consensus Forecast that had the economy growing 4.1%. A quarter-on-quarter comparison corroborates the notion of an improvement, as the economy surged 2.9% over the previous quarter in seasonally adjusted terms (Q4 2010: +1.0% quarter-on-quarter).