Ukraine industrial output increases 2% y/y in March

Ukraine industrial output increases 2% y/y in March
Ukraine's industrial output rose 2.1% year-on-year in March, after a 1.8% y/y fall in February, due to restored growth in manufacturing and continuing growth in mining, the nation's state statistics service Ukrstat reported on April 23.
By bne IntelliNews April 25, 2019

Ukraine's industrial output rose 2.1% year-on-year in March, after a 1.8% y/y fall in February, due to restored growth in manufacturing and continuing growth in mining, the nation's state statistics service Ukrstat reported on April 23.

Seasonally adjusted output increased 2.4% month-on-month. In January-March, industrial output declined 0.9% y/y.

Manufacturing output jumped 5% y/y in March (after a 1.5% y/y drop in February). In particular, food production advanced 7.3% y/y (vs. 0.6% increase in February) and metallurgical production surged 8.9% y/y (vs. 3.7% y/y drop in February).

Meanwhile, output in machinery declined 1.5% y/y (vs. 4.3% y/y in February). Mining output increased 1.8% y/y in March (vs 1.6% y/y growth in February). In particular, oil and natural gas output increased 5% y/y, and iron ore production rose 1.6% y/y. The supply of electricity and natural gas declined 8.1% y/y in March.

Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital believes that the March increase of industrial production came as a positive surprise.

"We will need to see the results of some more months in order to confirm the sustainability of positive trends in food and metallurgical production. Without intensification in these sectors, our forecast of industrial growth of 2% y/y in 2019 will not be attainable." she wrote n a note on April 24.

Data

Dismiss