Decline of industrial production slows down to 4.2% in annual terms

The decline in Ukraine's industrial output in July 2020 slowed down to 4.2% year-on-year after sliding 5.6% in June, the State Statistics Service says.

Taking into account the adjustment for the calendar-day effect, it fell by 4.4%, the stats agency said in its recent report.

Compared to the previous month, industrial production in July increased by 3.9%, excluding the adjustment, and by 1.4% if taking it into account.

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In the extractive industry and quarrying, the July drop was 0.7% on year, in the processing industry it stood at 6.6%, while in the electricity, gas, steam, and air conditioning supply there was an increase of 0.6%.

Industrial groups

In the context of major industrial groups: the annual production decline for intermediate consumption goods was 5.6%, investment goods – at 21.7%, and for consumer durables – at 0.6%.

For consumer goods of short-term use and energy, an increase in production was observed – at 1.1% and 0.5%, respectively.

Industrial output: background

• In 2019, industrial production fell 1.8% after a 1.1% rise in 2018.
• In June 2020, industrial output slowed to 5.6% excluding adjustments for the calendar-day effect after plunging by 12.2% in May.
• Operations at over 40% of industrial enterprises not affected by quarantine in Ukraine, the recent poll said.