Ukraine's economy plunged a revised 17.8 percent in the second quarter from the same period a year ago, as industrial production and construction plummeted under the weight of the global financial crisis. The contraction, the second-largest since quarterly records began in 2002, was smaller than the preliminary estimate of an 18 percent annual drop, the Kiev-based state statistics committee said in a statement on its Web site. The decline follows a decline of 20.3 percent in the first quarter. Ukraine is struggling to climb out of a recession that was sparked after demand for steel, Ukraine's biggest export, faltered and the related industries sagged. (Bloomberg)
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
