GDP growth in Ukraine for 5 months more than 2%

The index of basic industries (BSPI), despite the high base of comparison last year, in May accelerated to 3.2% yoy from 1.3% in April and 0.5% — in March, which increased the rate of growth of gross domestic product, said Department of Economic Analysis and Forecasting of the National Bank of Ukraine (NBU). "According to the department, GDP growth accelerated in May and January — May, slightly above 2%", — says the document, released on June 22.

National Bank indicates that the increase BSPI for January — May compared to the same period last year was 2.2%, whereas in January-April, he was equal to 1.8%.

The experts of the National Bank notes that the largest contribution to the increase in May had BSPI industry, reflecting the state of domestic demand: retail trade (1.4 percentage points) and construction (0.8 percentage points).

Thanks to stable build of real income growth in retail sales accelerated to 16.3% in April yoy to 17.9% in May.

The high level of public funding contributed to the revival of investment activity, which resulted in improved performance of the construction industry. For the first time since January of this year, in May, there was a growth in the volume of construction work: Department estimated at 9.6% in annual terms.

High domestic demand has also stimulated the production volumes of certain industrial sectors. Since the growth of food production industry by 3% in annual terms, Wood Processing — 1.2%.

The only export-oriented industry, which showed strong growth (14.9% yoy), — the chemical industry, the production of which was stimulated by strong external demand for fertilizers.

The government has laid in state budget-2012 real GDP growth forecast of 3.9%. Experts from international financial organizations and independent experts are more cautious in their forecasts, evaluating the potential growth of the Ukrainian economy this year to 1.3%.

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