Ukraine: Industrial production remains mired in the red
December 21, 2012
In November, industrial production contracted 3.7% over the same month the previous year, marking the sixth monthly drop in a row. However, the reading represents an improvement compared to the 4.2% fall tallied in October. The softer contraction was mainly driven by a milder decline in manufacturing output and growth in the mining sector. On the other hand, the distribution of electricity, gas and water deteriorated over the previous month.
Building on the dismal performance seen in recent months, the trend continues to dip further into the red, with annual average growth in industrial production falling from minus 0.8% in October to minus 1.5% in November.