News
30.10.2009
Ukrainian economy recovering from the crisis gradually
Ukraine’s industry is gradually recovering from the crisis: the September rate of the industrial production decrease was the lowest since early the year (18.4%) and dropped for the 9 months to 28.4%, reported the State Statistics Committee. Despite fallen outputs in the metallurgical industry, a positive trend was set by the chemical and machine-building branches. Experts are sure that the downturn pace will slow down to 21% by the year’s end. This means the start of the economy’s long recovery.
In September, Ukraine’s industrial output declined just by 18.4% (against the level of September 2008), i.e. 4.9 points better than in August, the State Statistics Committee reported on Friday. And for the first time since the beginning of the crisis, some of the branches – coke production and oil refining – showed a growth against this same month in 2008 (+6.4%).
The fast slowdown in the decline is caused by a low comparative basis. For the first time, the industrial production fell in August 2008 – by 0.5%; the decline quickened to 4.5% as soon as September and reached 19.8% in October. If the current production progress keeps on, this will allow the State Statistics Committee to register a gain in October at the expense of this factor alone.
Taking into consideration the statistical effect, economists advise to pay attention to the output behavior against the previous month. Compared with August, last month’s industrial production expanded by 1.9%. Positive trends were registered in all branches, except the mining industry (-0.5%) and metallurgy (-7.1%).
