Industrial Production Up 11% in 10M07

According to the State Statistics Committee, industrial production has risen 11.0% since the beginning of the year and 13.7% in October. Industrial output accelerated in October (+10.1% mom) on the back of growth in machine building (+27.4% yoy in 10M07 vs. 24.9% in 9M07), and paper and publishing (+10.1% yoy in 10M07 vs. 9.4% in 9M07). Ukraine’s largest industrial sector, metallurgy, continued to slow over the period (+9.9% in 10M07 vs. 10.5% in 9M07). We are forecasting industrial growth of 9% at yearend.