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Ukraine's economy returned to growth in Q3

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Staff writer |
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Data   The State Statistics Service of Ukraine:

Ukraine's economy returned to growth in the third quarter of 2015 following six consecutive quarters of decline, official figures showed.

The State Statistics Service said in a report that the Ukrainian gross domestic product (GDP) expanded by 0.7 percent on a quarterly basis in July-September after shrinking by 0.9 percent in April-June.

As compared with the same period a year earlier, the economy has contracted by 7 percent in the third quarter of 2015, the report said, without revealing details on the amount of the nominal GDP.

Ukraine's economy, which has sunk into recession at the beginning of 2014, demonstrated a weak performance in the first half of 2015, bogging down 16.3 percent year on year.

The government forecast that the economy will bottom out in 2015 with a contraction of 8.9 percent, before rebounding in 2016.

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