Page 17 - UKRRptJul21

3.0 Macro Economy
3.1 Macroeconomic overview
Economic growth in Ukraine slowed in May, primarily due to the base from last May being higher than the base from last April. Retail sales growth slowed from 34.3% to 22.7% y/y, which is still quite high thanks in large part to the rise in real wages. Industrial production growth slowed from 13.0% to 5.4% due to a slowdown in the manufacturing industry. The only sector that saw an improved growth figure in May was agriculture, where the decline eased from
17 UKRAINE Country Report July 2021 www.intellinews.com