Between January and October real GDP grew by 5.8% yoy, decelerating by 1.1 percentage points (p.p.) comparing to the first nine months of the year.
MEMU SUPPLEMENT: "Global financial crisis: impact on Ukraine’s banking sector"
The MEMU contains a monthly review and brief analysis of the key economic policy measures and data that come public during the previous month. The MEMU supplement presents extended analysis of one key event in the Ukrainian economy. There are 12 issues per year disturbed among subscribers.
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Between January and October real GDP grew by 5.8% yoy, decelerating by 1.1 percentage points (p.p.) comparing to the first nine months of the year.
MEMU SUPPLEMENT: "Global financial crisis: impact on Ukraine’s banking sector"
According to the Derzhkomstat, real GDP growth decelerated by 0.2 percentage points (pp) to 6.9% yoy in nine months of 2008 as compared to the eight-month growth under worsening conditions on world financial and commodities markets.
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Real GDP grew at 7.1% yoy between January and August 2008 as record crops harvest caused value added in agriculture to jump to 24.2% yoy.
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Real GDP grew by 6.5% yoy between January and July, that is 0.2 percentage points above growth rate for the first half of the year. This acceleration was caused mainly by the strong increase of value added in agriculture by 10.8% yoy due to good crop harvest.
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The real GDP growth slightly decelerated in June in comparison with May 2008. According to the Derzhkomstat, the real GDP grew at 6.3% yoy in the first half of the year, 0.1 percentage point below the previous period growth rate.
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Economic growth continued to accelerate gradually, although it still remained slower than a year before. According to the Derzhkomstat, in the first five months of the year the real GDP increased by 6.4% yoy, to a large extent thanks to some acceleration in trade, manufacturing and extractive industry.
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According to the Derzhkomstat, in the first four months of the year real GDP increased by 6.2% yoy as growth in manufacturing and trade accelerated slightly.
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In the first quarter of 2008, real GDP grew by 6.0% yoy compared to 8.0% yoy a year ago. As before, trade, manufacturing and transport were main engines of growth, explaining approximately three quarters of the change in economic activity level.
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The economic growth somewhat accelerated in February 2008 as compared to the previous period. According to the Derzhkomstat, in the first two months of the year real GDP increased by 5.8% yoy, primarily due to the higher growth of industrial production and stable development of transport and trade.
MEMU SUPPLEMENT: "New restrictions on grain and oilseeds exports"
In line with expectations, the economic growth slightly decelerated in January 2008 against high statistical base of the previous year. According to the Derzhkomstat, real GDP increased by 4.9% yoy in the first month of the year in comparison to 9.3% yoy growth a year ago.
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