According to the NBU Department of Economic Analysis and Forecasts, GDP growth in Q1 is estimated at about 2.5%.

The NBU press service told an UKRINFORM correspondent about this.

“Low world demand conditioned low economy growth. At the same time, high internal demand supported economic growth,” the statement reads.

Prices on the world commodity markets continued falling. Thus, annual change of the commodity price index at world exchanges made up13.5%. Cool down of foreign business activities appeared to be rather noticeable for main industrial branches of Ukraine. Key industrial sector index growth in January-March reduced to 2.1%.

In particular, metallurgical output in annual terms reduced by 2.6%, as a result of a drop in demand for steel, and production in the machine building sector is 5.6% down in annual terms.

High prices for energy carriers stimulated extraction industry, where production grew with high rates (+4.6% in annual terms).

At the same time, prices of raw foodstuffs remained low, which promoted production growth in the food sector (+2.4% in annual terms). This slightly promoted industrial dynamics, whose volumes dropped by 1.1% in annual terms, and in January-March, growth has slowed down to 0.9%.

In agriculture, reduction of prices for agricultural products, high expenditures of agricultural producers due to maintenance of considerable carryover stocks stipulated slow activity - 0.7% in annual terms.

In construction, production dropped by 5.6% (construction of objects related to UEFA EURO 2012, has actually completed, private investment demand was low).

The largest contribution into growth of key industry production index was provided by retail trade, whose turnover in March grew by 13.5% in annual terms.



Ukrinform