Ukraine real GDP accelerates to 3.6% yoy growth in 2Q18

Ukraine’s 2Q18 real GDP grew 3.6% yoy, or 0.9% qoq seasonally
adjusted, accelerating from 3.1% yoy (0.9% qoq) in 1Q18, according to
preliminary estimates by the State Statistics Service released on Aug 14.

Evgeniya Akhtyrko: This GDP
estimate looks more optimistic than the NBU’s assessment of 3.2% yoy growth
given in its July inflation report. While
industrial growth remains weak, overall
economic growth is apparently being driven by trade and other service sectors
amid high consumer demand. With this 2Q18 economic growth estimate, our 2018
GDP growth projection of 3.3% yoy looks attainable. Consumer demand will be the
major factor fueling economic growth.