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Industrial output in Ukraine continues to pick up in December

Staff Writer | January 28, 2017
Industrial production in Ukraine continued to gain steam in December.
Industrial output in Ukraine
Economy in Ukraine   The State Statistics Service of Ukraine:
According to data released by the State Statistics Service of Ukraine, industrial production rose 4.5% annually, which was above the 3.7% expansion recorded in November and marked a nine-month high.

Growth was broad-based across the index with electricity and gas production leading other sectors, while mining and quarrying output continued its rebound from October’s fall.

The trend continued to improve in December and annual average growth in industrial output rose from November’s 1.6% to 2.1%, the best result since August 2012.

Looking at the regions, a modest recovery was seen in the eastern areas of Donetsk and Luhansk, which both recorded growing industrial output.

Luhansk, in particular, picked up speed. Donetsk and Luhansk are Ukraine’s industrial heartlands and have been at the center of the conflict between the Ukrainian government and pro-Russian separatist groups.

Sequential data suggested a more mixed picture for industrial production. In December, output rose a seasonally-adjusted 1.9%, which was notably above the 0.8% growth in the previous month but well below the 5.7% expansion in October.

Following a timid recovery in 2016 after a substantial contraction in 2015, analysts expect Ukraine’s industrial production to build on last year’s improvement this year.

FocusEconomics Consensus Forecast participants project that industrial output will grow 3.3% in 2017, which is up 0.2 percentage points from last month’s forecast.

For 2018, panelists expect industrial production to rise 3.9%.