The growth of GDP in Ukraine in January-October 2016 was 1.2 percent, according to the Ministry of Economic Development and Trade.
“Over the ten months of 2016, the GDP growth is estimated at 1.2 percent. This dynamics correspond to our forecast, therefore we retain the forecast until the end of 2016 unchanged: the GDP growth at the level of 1 percent (plus/minus 0.2 percentage points),” reads a report on the ministry’s website.
The report also states that the consolidated production index showed acceleration of growth to 3.2 percent in January-October against a rise of 2.8 percent in January-September 2016.
The ministry stressed the real economy sector was first to feel the signs of renewal, becoming the engine of economic growth.
“A 50 percent rise in the consolidated production index was provided by a 1.9 percent growth in industry in the ten months, which was happening on the background of consumer demand recovery amidst the weakening of overall inflation, invigoration in the construction sector and the overall investment demand against the background of improving business expectations, a low base of comparison,” the report says.
The consolidated production index is calculated on the basis of indices of physical volume of production in agriculture, mining and processing industries, gas and electricity supply, as well as construction, transport and trade.
