Ukraine: Industrial production contracts the most in more than three years
January 22, 2013
In December, industrial production dropped 7.6% over the same month in 2011, which came below the 3.7% drop recorded in November, thus marking the steepest fall seen since September 2009. The monthly contraction was driven by a sharp fall in manufacturing output as well as in the mining sector. Conversely, the electricity, gas and water sector improved over the previous period.
In the full year 2012, industrial production contracted 2.2%, which contrasts the 7.8% expansion recorded in 2011 and marks the lowest reading in three years.