Ukraine: GDP contracts further in Q1
April 30, 2013
In the first quarter, GDP decreased 1.3% over the same period last year, according to preliminary estimates released by the National Statistics Institute on 30 April. The figure, which came in above the 2.5% drop recorded in the final quarter of 2012, marked the third consecutive contraction in output.
A quarter-on-quarter comparison, however, does not corroborate the contraction suggested by the annual figures, as the economy grew a seasonally adjusted 0.5% over the previous quarter. Revised and more complete data for GDP will be released on 10 June.
Consensus Forecast participants see the economy growing 1.4% in 2013, which is down 0.2 percentage points from last month's forecast. For 2014, panellists anticipate that the economy will grow 3.5%.