Industrial output rises 7.3% yoy in 7M08

Ukrainian industrial output grew 7.3% yoy in 7M08, down from 7.5% through 6M08, the State Statistics Committee reported yesterday. In July, industrial output rose 5.1% yoy, vs. 5.2% in June and 8.3% in May. Polina Khomenko: Industrial output growth has been slowing since May. A decrease in pipe production has tracked metallurgy lower for two months in a row (-0.3% mom in July and -6.0% mom in June). A 30% yoy slump in oil supplies in 7M08 was reflected in a 12.4% yoy fall in output from the coke & oil refinery industry. We will review our yearend forecast for industrial output in the nearest monthly report.