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Ford drives hike in car production in Romania
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Ukraine's industrial output declined 1.3% year-on-year in September following a 0.5% y/y decrease in August amid continuing declines in manufacturing and utilities, the nation's state statistics service Ukrstat reported on October 23.
Seasonally adjusted output remained at the previous month’s level (vs. a 0.7% month-on-month decline in August). In January-September, industrial output increased 1.8% y/y (vs. 2.2% y/y growth in January-August).
Mining output rose by 0.7% y/y in September (after a 2.3% y/y growth in August). In particular, coal production surged by 13.2% y/y while oil and gas production advanced by 6.4% y/y. Meanwhile, iron ore production dropped by 3.2% y/y.
September manufacturing output declined by 1.6% y/y (from a 0.5% y/y decrease in August), mostly owing to a drop in machinery (-4.5% y/y) and metallurgy (-1.3% y/y). Meanwhile, food industry output inched up by 0.3% y/y (from a 1.0% y/y decline in August). Output in utilities declined by 3.9% y/y in September (after a 6.4% y/y drop in August).
"Ukraine’s industry performance is disappointing," Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital wrote in a note on October 24. " Hopefully, the food industry's recovery will help to stop the decline in overall industrial output in the fourth quarter of 2018."
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