Ukrainian Economic Growth Slows in Fourth Quarter
Ukraine’s economic growth decelerated to the slowest pace in a year, curbed by slower expansion in western Europe.
The economy expanded 3 percent in the fourth quarter from the same period a year earlier, following 3.4 percent annual growth in the previous three-month period, the Kiev-based statistics office said on its website today, without providing any more detailed figures.
Europe’s economy expanded less than economists forecast in the fourth quarter as cold weather curbed German output and French growth unexpectedly stalled. Ukraine’s economy expanded 4.2 percent in all of 2010 as prices for metals, a main driver of exports, rose. That followed a 14.8 percent slump the previous year, the deepest recession since 1994.
Fourth-quarter gross domestic product increased 1 percent compared with the previous three months, the statistics office said. The median estimate of ten economists surveyed by Bloomberg was for 4.1 percent annual growth.
The economy may expand 4 percent to 5 percent this year, Iryna Akimova, the first deputy chief of President Viktor Yanukovych’s staff, said yesterday.
To contact the reporter on this story: Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net
To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net
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