Ukraine real GDP accelerates to 3.1% yoy growth in 1Q18

Ukraine’s 1Q18 GDP grew 3.1% yoy, or 0.9% qoq
seasonally adjusted, accelerating significantly from 2.2% (0.5% q/q) yoy in
4Q17, according to preliminary estimates by the State Statistics Service
released on May 15.

Evgeniya Akhtyrko: This GDP
estimate comes as a positive surprise amid weak industrial performance in 1Q18
and a downward trend in agriculture. Apparently, the continuing upswing in trade
and construction boosted economic growth. We expect such growth to accelerate
even further to reach our 2018 GDP growth projection of 3.3% yoy. For that to
occur, industrial performance will have to improve.