Ukraine: Industrial production falls most in over three years
September 21, 2012
In August, industrial production contracted 4.7% over the same month last year, which came on top of the 0.9% drop recorded in July and marked, in fact, the steepest fall seen since October 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 down, with annual average growth in industrial production falling from 2.4% in July to 1.1% in August.