NBU: GDP growth estimated at 5-6% in Q1, 2011
2011-04-19 14:52:41
GDP growth in Ukraine in the first quarter of 2011 is estimated at 5-6%, according to Valeriy Lytvytsky, the head of the group of advisers to the governor of the National Bank of Ukraine (NBU).
He said that economic growth had not yet accelerated, but there had been no background (2-2.5%).
The positive elements in the first quarter of 2011 were the fact that all the basic industries increased their output, whereas last year the construction and trade sectors were in a recession. Growth was reported on the trajectory, above the forecast. This particularly concerns the transport and trade sectors that are increasing their volumes in a two digit measurement (13.1% and 12.3%).
Production in agriculture (5.3% in Q1, 2011) has been growing for the third consecutive month, after the semi-annual (July-December) recession. The volume of construction work has grown after three years of recession in 2008-2010 (January-March - 6.8%).
Retail turnover was 12.3% in the first quarter of 2011.