Ukraine: Industrial production contracts the most in three years
October 17, 2012
In September, industrial production plummeted 7.0% over the same month last year, which came below the 4.7% drop recorded in August and marked, in fact, 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. On the other hand, the distribution of electricity, gas and water categories improved over the previous month. As a result of the negative annual reading, the trend continues to point downwards, with annual average growth in industrial production swinging from plus 1.1% in August to minus 0.1% in September.