Ukraine: Industrial production growth falls to an almost three-year low in June
July 23, 2012
In June, industrial production contracted 1.4% over the same month last year, contrasting the 1.0% rise observed in May. In fact, the June figure represented the steepest decline seen since October 2009. The deterioration was mainly driven by a steep decline in manufacturing output as well as in the mining sector. On the other hand, the production and distribution of electricity, gas and water category improved over the previous month. Owing to the weaker monthly reading, the trend continues to point downwards, with annual average growth in industrial production falling from 4.2% in May to 3.3% in June.