Ukraine: Industrial output recovers modestly from December's decline
February 22, 2012
In January, industrial production increased 2.0% over the same month last year. The figure contrasted the 0.5% contraction tallied in December but still represented the smallest increase since the industrial sector returned to growth in November 2009. The improvement over the previous month was underpinned by the manufacturing sector, which swung from a 1.1% contraction in December to a 1.2% increase. Moreover, the production and distribution of electricity, natural gas also stepped out of the red, whereas the mining sector expanded at a more moderate pace. As a result of the subdued expansion, the trend continued to point downwards, with annual average growth in industrial production falling from 7.0% in December to 6.4% in January.