GDP Growth At 9.3% yoy In January.

According to the State Statistics Committee Ukraine’s GDP grew 9.3% yoy in January. Construction (+26.3% yoy) and Processing Industries (18.9%) were the main driving forces behind GDP growth. After reporting surprisingly high industrial production growth (15.8%), the State Statistic Committee reproted robust expansion in all sectors of the Ukrainian economy. The only exception is the utilities sector which contracted in January in real terms (-5.9% yoy), though this is mainly due the  decrease in power output due to this year’s mild winter on in contrast to last year’s severe frosts.  Inflation in January stood at 0.5% mom.