Ukraine GDP declines 1.5% yoy in 3Q13
31 October 2013
Ukraine’s GDP declined 1.5% yoy vs. a 1.3% drop in 2Q13, according to provisional estimates of the state statistics of Ukraine that were released on October 30.
Alexander Paraschiy: Ukraine’s third-quarter GDP decline exceeded our estimates (we projected -0.5% yoy in 3Q13). A deeper plunge in industrial output (-5.3% yoy in 3Q13 vs. our anticipated 2-3% yoy decline) and a suddenly worsened agri-performance (+1.2% yoy in 3Q13 instead of our projected double-digit growth) due to heavy rains in September seem to be the main determining factors. In light of this trend, we’re reducing our 2013 GDP growth forecast to -0.8% yoy from -0.3% yoy.
