Ukraine: Industrial production continues to decline in September
October 23, 2013
In September, industrial production declined 5.6% over the same month last year, which was a deterioration over the 5.4% contraction recorded in August. The deterioration was mainly due to a contraction in manufacturing output, which more than offset the mild improvements registered in mining and quarrying and in electricity, gas, steam and air conditioning supply.
On a monthly basis, industrial production fell a seasonally-adjusted 0.4% over the previous month, which followed August's 2.5% decline. Annual average growth in industrial production inched down from minus 4.7% in August to minus 4.8% in September, the lowest reading since April 2010.
FocusEconomics Consensus Forecast participants estimate that industrial output will contract 2.3% in 2013, which is down 1.3 percentage points from last month's forecast. For 2014, panelists expect industrial production to accelerate to 2.3%, which is down 0.4 percentage points from last month's estimate.