Ukraine’s Economic Growth Slowed to 4.6% in Fourth Quarter
Ukrainian economic growth eased in the fourth quarter of 2011 as industrial production slowed because of weaker demand for the country’s products on world markets, the state statistics committee said.
Gross domestic product expanded a preliminary 4.6 percent from a year ago, compared with 6.6 percent in the previous three-month period, the statistics committee, based in the capital Kiev, said today on its website. The result exceeded the 4.5 percent median estimate of three economists in a Bloomberg (UACPTYOY) survey.
Growth accelerated a seasonally adjusted 0.6 percent from the previous three-month period, the statistics office said, without providing any additional data. Ukraine’s economy grew 5.2 percent in all of 2011, the fastest pace since 2007, spurred by a good harvest and increased exports, the office said. That compares with a 4.2 percent gain in 2010 and a 3.9 percent forecast by the government for 2012.
“The second half of 2011 was stronger than analysts expected because of a good harvest,” said Alexander Valchyshen, the head of research at Investment Capital Ukraine in Kiev. Valchyshen sees growth of 3.5 percent for this year and doesn’t plan to revise it at the moment.
Ukraine’s government bonds due to mature in 2016 rose, pushing yields down to 9.6 percent, the lowest level since Dec. 15 as of 11:07 a.m. in Kiev.
-- With assistance from Harumi Ichikura in London. Editors: James M. Gomez, Andrew Atkinson
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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