The national Bank of Ukraine (NBU) estimates the GDP growth in the third quarter of 2019 compared to the corresponding period in 2018 3.5%, reported in the inflation report of the NBU.
According to the forecast, the NBU, the growth of Ukraine’s GDP in the fourth quarter of 2019 compared to the corresponding period in 2018 will amount to 3.3%.
“According to the NBU, in the third quarter of 2019, real GDP growth slowed down (up 3.5% yoy) primarily due to weaker underlying performance of individual types of activities”, – the report says.
So, according to the Central Bank, the situation has deteriorated in industry, particularly mining and metallurgy, against the background of further deterioration of the external environment for exporters. This, in turn, impacted freight transportation. Also weakened the results of the financial and insurance activities, primarily due to less favorable comparison base.
However, as noted by the NBU, remained high growth rate of agriculture supported a substantial harvest late grains and oilseeds, which compensated for the lower harvest of potatoes and fruit and berry crops.
GDP growth in the third quarter was supported by consumer demand for a significant improvement in consumer sentiment, wage growth, increase of pensions. This supported high rates of growth of retail trade and passenger traffic, the report said.