May GDP Up 8.5%.
14 June 2008
Ukraine’s GDP grew by 8.5% yoy in May. In January-May cumulative GDP growth was 4% compared to 4.7% last year. Concorde Capital: Theindustrial output surge of 10% yoy in May was the main driving force behind this month’s GDP growth. In addition construction and retail trade, after dropping in 2005, have maintained strong growth rates during 5M06: +8.2% yoy and 6.7% yoy respectively. The growth in these sectors has caused a gradual reduction in GDP dependency on industry dynamics – despite the moderate industrial growth rate of 0.4% during 4M06, Ukraine maintained relatively high GDP growth of 2.7% over the same period. We continue to maintain our GDP growth forecast at 3% for 2006.
