Ukrainian Economy Ministry has revised downward its forecast for the growth of Ukraine's real GDP in 2019 to 2.8% year-on-year from 3% y/y.
The ministry also forecasts the 2020 growth at 3.8% y/y, in 2021 at 4.1% y/y, according to local media.
In March, the nation's Prime Minister Volodymyr Groysman said that the Ukrainian government forecasts the economic growth by over 3% y/y in 2019.
Last week, the International Monetary Fund (IMF) has kept unchanged its forecast for Ukraine's GDP growth in 2019 and 2020 at 2.7% year-on-year and 3% y/y respectively.
According to Ukraine's state statistics service Ukrstat, the nation's GDP grew by 3.3% y/y in 2018 following a 2.5% y/y growth in 2017 and a 2.4% y/y growth in 2016.
Ukrstat has also improved the estimate of GDP growth in the fourth quarter of 2018 from 3/4% y/y to 3.5% y/y. According to official data, the nation's GDP grew by 2.8% y/y (0.4% q/q) in the third quarter of 2018.
The adjusted annual growth in April owes to production expanding 14% y/y in the most-weighted manufacturing segment, compared to a growth of 7% y/y the preceding month.
The pick-up owes to the calendar effect, with sales spiking because of Easter but also to Polish households’ general inclination towards increased consumption, driven by the good situation on the labour market – low unemployment and growing wages.
Russia's industrial output growth in April 2019 jumped to 4.9% year-on-year after 1.2% growth in March, according to the latest data by Rosstat statistics agency. Russia on track to finish the year with 2.3% industrial production growth
The headline figure attests to the Polish industrial sector’s stubbornness to give in to negative trends in the external environment, especially the slowdown of activity in Germany, Poland's largest trading partner.
Retail trade increased 9.1% y/y in real terms in April, slightly accelerating from 8.9% y/y in March