Page 25 - UKRRptAug20

The State Statistics Service will publish its second-quarter GDP data in mid-August.
4.0​ Real Economy 4.1​ Industrial production
The decline of Ukraine's industrial output slowed to 5.6% y/y in June ​from a 12.2% y/y plunge in May, the State Statistics Service reported on July 22. Seasonally adjusted output increased 3.4% m/m. In 1H20, industrial output dropped 8.3% y/y.
Manufacturing output fell 6.2% y/y in June (after a 15.6% y/y plunge in May). In particular, metallurgy output slid 3.9% y/y (vs. a 19.0% y/y drop in May). Machinery production plummeted 22.5% y/y (after a 22.4% y/y fall in May).
Meanwhile, food production inched up 0.8% y/y (vs. a 5.4% y/y decrease in May), chemical production advanced 1.1% y/y (after 5.6% y/y growth in May), coke and oil production gained 7.7% y/y (vs. a 0.8% y/y drop in May).
Mining output fell 4.9% y/y in June, after plummeting 8.9% y/y May. In particular, coal production plunged 22.7% y/y, oil and natural gas production slid 2.5% y/y, and iron ore output dropped 4.8% y/y. The supply of electricity and natural gas decreased 4.0% y/y after a 1.9% y/y decrease in May.
Regionally, the steepest declines were observed in Ukraine-controlled Luhansk (-52.8% y/y), Dnipropetrovsk (-12.9% y/y) and Vinnytsia (-12.4% y/y) regions. Industrial output grew the most in Kirovohrad (11.3% y/y), Khmelnytsky (10.9% y/y) and Sumy (8.9% y/y).
The June results met expectations. However, analysts don’t see much chances for Ukrainian industry to show year-on-year growth in any month of this year, given the high dependence of Ukraine’s industry on external demand, which is also likely to be sluggish through the year end.
25​ UKRAINE Country Report​ August 2020 ​ ​www.intellinews.com