Ukraine: Industrial production contracts for 11th consecutive month in June
July 23, 2013
In June, industrial production declined 5.7% over the same month last year, which followed the sharp 9.3% drop seen in May. The decline reflected contractions in all the main subcategories and marked the eleventh consecutive contraction. On a monthly basis, however, industrial production rose 1.6% over the previous month in seasonally adjusted terms, contrasting the 5.6% decline tallied in May.
As a result of the annual contraction in June, the trend is pointing downwards; annual average growth fell from minus 3.4% in May to minus 3.8%, the lowest since April 2010.
FocusEconomics Consensus Forecast participants estimate industrial output to expand 0.2% in 2013, which is down 0.9 percentage points from last month's forecast. For 2014, panellists expect industrial production to accelerate to 2.8%.