Key branches production index in Ukraine resumes growth in May – NBU

The key branches production index of Ukraine in May 2017 increased by 4.1% after a slight decline in April, and in general for the five months it grew by 2.4%, the National Bank of Ukraine (NBU) has reported.

"The growth was promoted by improvement of consumer sentiment and the business expectations of enterprises, as well as the activation of capital expenditures of local budgets," the regulator said.

According to the NBU, a noticeable improvement in consumer sentiment confirms the May growth of retail trade turnover by 10.7%. Wholesale trade turnover increased by 4.5% due to the revival of industrial production, the central bank said.

The key branches production index also grew due to construction, which in May rose by 24.5% from last year's figure because of the increase in the volume of construction work in the non-residential segment and in the engineering sector (in particular, asphalt production increased by 55%, concrete by 42%), while housing construction slowed down to 1.7%.

According to the NBU, the pharmaceutical sector improved the figures by 24%, machine building by 14.7%, textile industry by 14.4%, woodworking by 10.7%, food, beverages and tobacco production by 7.7%.