Ukraine: Industrial output contracts in August
According to data released by the Statistical Institute, industrial production fell 0.5% year-on-year in August, swinging from a healthy 2.9% rise in July. The print marked the first contraction in over a year and was led by a slight dip in manufacturing production, as well as by a marked drop in output in the electricity, gas, steam and air conditioning supply sector.
Annual average growth in industrial output, meanwhile, ticked down from a 17-month high of 1.9% in July to 1.6% in August. Looking at sequential data, industrial production fell 0.5% month-on-month in July, a marked deterioration from the previous month’s 1.4% increase.