November GDP Down 2.7% yoy.

In November, Ukraine’s GDP fell by 2.7% yoy to USD 7 bln. In January-November GDP grew by 2.2% yoy. Concorde Capital: According to the results of 11M05, the cumulative GDP growth rate has dropped considerably compared to last year’s figures: 2.2% vs 12.4% in 10M04. Slowdown in industrial output, a decline in construction (-6.9%) and trade (-8.5%) were behind this year’s modest GDP growth. In early December, the Economic Ministry downgraded its GDP growth forecast to 3.2-3.5%. Our 2005 GDP growth estimate is 4%.