Ukraine: Industrial production declines at a slower pace in November
December 20, 2013
In November, industrial production declined 4.7% over the same month of the previous year, which marked a slight improvement over the 4.9% contraction recorded in October. Although production in mining registered the largest expansion in over a year and electricity, gas and water expanded slightly, total industrial production remained in negative figures due to the ongoing contraction in manufacturing.
On a monthly basis, industrial production contracted a seasonally-adjusted 2.6% over the previous month, which contrasted October's 7.4% expansion. Annual average growth in industrial production edged down from minus 5.0% in October to minus 5.2% in November, the lowest reading since April 2010. As a result, the trend still points downward.
FocusEconomics Consensus Forecast participants estimate that industrial output will expand 1.9% in 2014, which is unchanged from last month's forecast. For 2015, panelists expect industrial production to accelerate to 4.0%.