GDP grows 6.4% yoy in 5M08
17 June 2008
Ukraine’s real GDP rose 6.4% yoy in 5M08 (up from growth of 6.2% yoy in 4M08), the State Statistics Committee reported on Friday. GDP deflator was 33.1% yoy in 5M08, up from 31.2% yoy in 4M08. Trade (+15.8% yoy) and processing industry (+9.5% yoy), as well as taxes collection (+12.3% yoy) remained the key contributors to the GDP growth. Andrii Parkhomenko: GDP growth accelerated for the fourth consecutive month this year, which on the back of surging prices (CPI hit 31.1% yoy in May), might indicate that the economy is overheating. The NBU in its recent report noted that GDP was 1.7% higher than its sustainable level in 1Q08. We stick to our forecast of real GDP growth of 6.8% yoy in 2008.
