Industrial Output Rises 3.6% YoY in January, Beating Expectations

February 26, 2018


Ukraine’s industrial production rose by 3.6% YoY in January after a decline by 0.5% YoY seen in December, the State Statistics Committee (UkrStat) reported on Friday (Feb 23). The month-on-month unadjusted change was a drop of 3.9% as a result of the New Year holiday season.


Output in the manufacturing sector increased by a solid 9.7% YoY in January, with the chemical industry demonstrated the largest production growth of 55% YoY after several fertilizer plants resumed operation in 2H17. Utility sector output fell by 8.1% YoY in January due to the difference in the comparison base, as data for January 2017 still included output from the occupied territories of the Donbass. For the extraction sector, it was a similar situation, with the sector’s production index inching down by 0.2% YoY on lower coal extraction (-22.9% YoY). Meanwhile, the extraction of iron ore rose by 6.8% YoY in the period and oil&gas output increased by 1.2% YoY.
In other key economic statistics, UkrStat reported that retail sales receipts maintained their impressive pace of growth, rising by 9.6% YoY in January. However, the construction sector saw a decline in activity measured by the index of 1.0% YoY in the first month of the year. 

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