Industrial Output Increases 8% yoy in 4M08

Ukrainian industrial output grew 8% yoy in 4M08, the State Statistics Committee reported yesterday. For the month of April, industrial output dropped 1% mom (+8.3% yoy). Andrii Parkhomenko: Growth in industrial output continues to be led by machinery (+32.2% yoy in April). Food rose 4.8% yoy, while metallurgy added 0.9% yoy in April. Oil refining remained the most significant constraining factor, pulling overall industrial growth down 1.2% yoy. In April, oil refining was down 19.7% yoy, a substantial improvement from the steep 40.2% yoy drop in March.