According to the State Statistics Committee, Ukraine’s industrial production grew 4.9% YoY in April. Provisional estimates reported an 8.5% YoY output increase over 4M11.

Production in chemicals, metallurgy, machinery and utilities moderated during 4M11 and weighed down industrial sector results. At the same time, light industry growth accelerated and reached 17% YoY in 4M11 compared to growth of 8% YoY a year ago.

Phoenix Capital analyst said “Given the Ukrainian economy’s significant dependence on industrial sectors, the downbeat factory data points to weaker GDP results in 2Q 2011. Volatility in commodity prices, coupled with the cooling off global economic momentum, present the largest risk factors for Ukraine’s economic recovery at the moment. However, we should note that April’s data was influenced by a base effect: industrial production rose in April 2010 by an impressive 17.4% YoY. In the coming months, we estimate industrial sectors will show more stable dynamics, increasing 8.3% YoY on average.”

(Sourced from www.phoenix-capital.ua)