GDP Up 8.2% In November

According to preliminary data from the State Statistics Committee, Ukraine’s GDP grew 8.2% in November bringing 11M GDP growth to 6.7% yoy. Alexander Viktorov: November GDP growth, though down slightly from October, was driven by the construction, transport and trade sectors. This year has seen a changing of the guard as industrial production, typically the main driver of Ukraine’s GDP, has been surpassed by the service industry. November GDP growth is already higher than our 2006 GDP forecast of 6.5%, thus we raise our year end forecast to 6.9%.