The National Bank estimates GDP growth of Ukraine in October at the level of 7%, in January-October - slightly over 5%, this is said in the analysis of the economic state of Ukraine, posted on the regulator's website.

A growth of primary branches production, for calculation of which data are used on the dynamics of types of economic activities making up over 40% of GDP, in October 2011 was at 11.4% in annual terms against 10.5% in September 2011.

The NBU notes that over recent three months, a clear trend has been observed toward a growth of the agriculture contribution to the economic growth with reduction of the share of industrial production.

In the current year, the largest yield of grain crops over the whole history of Ukraine's independence is expected, as of November 28, 56 million tons of grain crops was gathered (+35.3% against the previous year).

A growth in crop capacity of other products over 10 months also had considerable rates, which in turn became a reason for the food industry growth.

However, the regulator notes that "for the second month in succession under the impact of worsening of the foreign economic conjuncture the slowdown of industrial production takes place and reduction of its contribution to the key industry and GDP growth. In October, industrial production growth made up 4.7% in annual terms (6.4% in September), over 10 months - 8.2% against the same period of the previous year," the statement reads.

At the same time it is noted that the largest slowdown of the growth took place in export-oriented sectors, such as metallurgy, machine building, chemical and petrochemical industries.

Ukrinform