Ukrainian economy shrinks 1.3 pct in third quarter

Ukraine's gross domestic product (GDP) shrank 1.3 percent year-on-year in the third quarter of 2012, the country's statistical agency said here Wednesday, according to Xinhua.

Official figures released by the State Statistic Service suggested that Ukraine's GDP quarterly plunge was 1.2 percent.

Local experts attributed negative GDP growth to weak external environment and lower figures of key export-oriented sectors, in particular machine-building.

The East European state's economy expanded 2.5 percent during the first half of the current year to reach 79 billion U.S. dollars.

In spite of negative GDP growth in the third quarter, the Ukrainian government kept the full-year growth target for 2012 unchanged at 3.9 percent.