: :inin Kyiv (EET)

National Bank identifies cause behind industrial output decline in June


A railway workers strike in the east of Ukraine, which blocked the movement of freight trains, has restarted the decline in industrial production and cargo turnover, according to the National Bank of Ukraine`s (NBU) Macroeconomic and Monetary Review published on the regulator`s website.

”The strike of railway workers in the east of the country, which blocked the movement of freight trains, led to a short-term but tangible impact on economic activity in June. As a result, industrial production and cargo turnover have resumed their decline,” the report stated.

According to the NBU, following the increase in trade volumes and boost in crop productivity, the production index of basic industries accelerated to 1.7% in annual terms.

As UNIAN reported earlier, the decline in industrial production in Ukraine in June 2016 amounted to 3.4% year-on-year. The decline in industrial output in June in comparison with the same month last year was recorded for the first time in Ukraine, following a growth in the February-May period. Industrial production in June 2016 decreased by 2.1% compared with the previous month. From January to June this year, the growth of industrial production in the country amounted to 2%.

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