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Ukraine revises up Q3 GDP growth to 2 percent

Xinhua, December 20, 2016 Adjust font size:

The Ukrainian State Statistics Service on Monday has revised up the country's economic growth estimate in the third quarter of 2016 from 1.8 percent to 2 percent year-on-year.

According to the statement on the website of the statistical agency, the nominal value of the gross domestic product (GDP) in July-September stood at 25.2 billion U.S. dollars.

The construction sector, which grew by 17.5 percent in the third quarter, was the main driver of the economy, the statement said.

The strengthening of economic growth was also supported by the slight expansion in the processing industry, agriculture, trade, telecommunication and utility sectors.

In the same time, the mining industry, together with financial, healthcare, educational and recreational sectors showed a yearly decline in July-September.

The Ukrainian economy has returned to growth in the first quarter of 2016 after two years of recession, with the GDP expanding by 0.1 percent year-on-year. The economic growth accelerated to 1.4 percent in April-June.

In 2015, the economy of the East European country bogged down 9.9 percent. Endit