The State Statistics Committee of Ukraine on July 14 said Ukraine industrial sector production increased 8.7%YoY in H1 2011.

Factory output growth in June improved 8.9%YoY. In H1 2011, machinery production strengthened by 21.2% YoY, chemical industry output climbed 22% YoY metallurgy added 10.2% YoY, light industry expanded by 13.4% YoY and utilities growth kept steady at 7% YoY.

According to Phoenix-capital analyst “The news is positive for Ukraine economy. Industry had its strongest growth pace in the last four months despite mounting uncertainty in the global economic recovery. We expect industrial sectors will maintain a healthy expansion strategy for the rest of the year, thus achieving an 8.3%YoY growth rate. While slackening global demand will weigh on industrial advancement, recovering investment expenditures will shore up economic momentum. In addition, the newly released factory data points to sustainable GDP growth in H1 2011 which we estimate at close to 5% YoY.”

(Sourced from www.phoenix-capital.ua)