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Real GDP growth slowed to 3%, – NBU

Рост реального ВВП замедлился до 3%, - НБУNational Bank said the slowdown of the Ukrainian economy in the first quarter compared to the previous quarter.

According to the National Bank of Ukraine (NBU) in the first quarter of 2017, real GDP growth slowed to 3% from 4.8% in the previous quarter. This NBU reported in the inflation report on the official website.

The determining factor in the slowdown in GDP growth was the blocking of transport communications in the East of the country. The blockade provoked the fall of the indices of mining and metallurgical production and the deterioration of related activities.

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In the first quarter, consumer demand remained subdued despite a twofold increase in minimum wage, says the regulator.

The national Bank estimates that investments continued to grow rapidly.

It was shown by the significant increase in production volumes of machinery and equipment for the needs of all core activities (including the growth of production of railway rolling stock), high growth in construction volumes and growth of imports of engineering products.

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While the annual dynamics of investments was determined by a low base of comparison.

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