Ukraine’s industrial production decline slowed down to 1.5% in February

According to the State Statistics Service, in February 2020, industrial production in Ukraine shrank by 1.5% compared to February last year. A decline was 5.1% in January and 7.7% in December 2019.

At the same time, with adjustment for the effect of calendar days, industrial production in February of leap year 2020 fell by 4.1% compared to February of non-leap year 2019.

In February, production of steel and finished steel products fell by 4.1% and production of iron ores by 5.6% against February last year.

Over the first two months of this year, industrial production in Ukraine declined by 3.1% compared to the same period of the previous year.

In January–February, production of steel and finished steel products decreased by 7.3% and production of iron ores by 3.7% compared to the same period of the previous year.

As reported earlier, a steady downward trend in Ukraine’s industrial production was recorded since last June.

In 2019, industrial production in Ukraine dropped by 1.8% against 2018. Last year, production of steel and finished steel products decreased by 3.1%, whereas production of iron ores remained unchanged.