Ukraine: GDP contracts for fifth consecutive quarter in Q3
October 30, 2013
In the third quarter, GDP decreased 1.5% over the same period last year, according to preliminary estimates released by the National Statistics Institute on 30 October. The figure exceeded the 1.3% drop recorded in the second quarter, marking the fifth consecutive quarter in which output contracted.
On a quarter-on-quarter basis, the economy contracted 0.4% in seasonally-adjusted terms, which matched the 0.4% fall recorded in the previous quarter. Revised and more complete GDP data will be released on 19 December.
Consensus Forecast participants see the economy contracting 0.1% in 2013, which is down 0.2 percentage points from last month's forecast. Panelists expect the economy to grow 1.7% in 2014, which is also down 0.2 percentage points from last month's estimate.