Industrial production in Ukraine reverses growth trend seen in last 4 months

Friday, July 22, 2016 - 11:20 (EEST) Section: Latest news

Ukraine`s industrial production in June 2016 declined by 3.4% year-on-year (y-o-y), the State Statistics Service of Ukraine reported.
The decline in industrial production in June was recorded for the first time and follows several consecutive months (February-May) of growth, the report noted.
Industrial production in June 2016 fell by 2.1% from the previous month. In the January-June 2016 period, industrial production in Ukraine grew by 2%.
According to the State Statistics Service, the highest growth dynamics in June 2016 were seen in the production of computers (53% y-o-y), rubber and plastic products (7.7% y-o-y), and in the chemical industry (5.2% y-o-y).
The highest production growth rates in June 2016, in comparison with the previous month, were recorded in the production of computers (52.4%), mechanical engineering (6.1%), and textile production (8.4%).
The greatest decline in production in June 2016, compared with June 2015, was recorded in coal and lignite coal production (down by 17.7%), crude oil production (down by 9.8%), and production of furniture (down by 13.2%).
The steepest decline in production in June 2016, compared with May this year, was seen in oil refining (down by 16.4%), and coal and lignite coal extraction (down by 14.5%). The data excluded the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and part of eastern Ukraine, which is the so-called Anti-Terrorist Operation zone.
As UNIAN reported earlier, Ukraine`s industrial output growth in May 2016 slowed down to 0.2% from 3.5 % y-o-y. According to the State Statistics Service, the drop in industrial production in May accelerated to 3.7% compared with April 2016, following a decrease of 3.4% in April in comparison with March. From January to May 2016, industrial output grew by 3.1% (y-o-y).
In 2015, the decline in industrial production accelerated to 13.4% from 10.7% recorded in the previous year.
According to the expert consensus forecast compiled by UNIAN, industrial production in Ukraine can grow 3% this year.
 [A1]Have removed ”recorded in the previous month” since sentence constuction became confusing. Please check.