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Industrial slump resumes in Ukraine

The industry output fell by over 3 percent in June.

Industrial slump resumes in Ukraine
Photo: Photo: www.ua.all.biz

The first in three years industry growth in Ukraine has proved to be short-lived. After four months of growing, the index took a 3.4% dive in June.

"In June 2016 over May 2016, the index of industrial production inched down 97.9% (taking into account the seasonal factor - 97.5%) and June 2015 - 96.6% (adjusted for the effect of calendar days - 97.1% )," the State Statistics Service said in a 21 July release.

The previous six months of 2016 showed an increase of 2%.

In 2015, the industry output dropped 13%. In January, 2016 the drop was at 1.7%, but February showed an increase of an increase of 7.6%, March gave 4.8% growth, April - 3.5%. In May the industry growth was at 0.2% .

Prior to 2016, the industrial output declined more than three consecutive years.