Ukraine: Industrial production contracts for the first time in over two years
January 23, 2012
In December, industrial output contracted 0.5% over the same month the previous year, which contrasted the 3.8% expansion seen in November. The negative print represents the first contraction since October 2009. The deterioration over the previous month was broad-based, as all sectors performed worse than in November. In particular, both the production and distribution of electricity, natural gas and water as well as manufacturing dipped into the red, contracting 5.3% and 1.1% respectively in annual terms. Based on monthly data, industrial production increased 7.0% in the full year 2011.