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Ukraine industrial output accelerates in June

Staff Writer | July 27, 2017
Ukraine’s industrial activity picked up steam in June, recording the best result seen so far this year.
Ukraine industrial
Industry   FocusEconomics Consensus Forecast
According to data released by the State Statistics Service, industrial production rose 3.8% over the same month last year, a larger increase than the 1.2% rise recorded in May.

A strong expansion in the manufacturing sector drove the improvement and helped offset a notable contraction in electricity, gas, steam and air conditioning output.

In addition, mining and quarrying output rebounded in June. Although industrial output grew in almost all regions of the country in June, it continued to contract in the rebel-held eastern regions of the country, Donetsk and Luhansk.

Sequential data showed muted growth in industry activity and output rose a seasonally-adjusted 0.1% on a monthly basis (May: +3.4% month-on-month). Annual average growth in industrial output rose from 0.7% in May to 1.2% in June.

FocusEconomics Consensus Forecast participants’ project that industrial output will grow 1.8% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect industrial production to rise 3.6%.