Ukraine Faces Recession

BusinessEconomy ♦ Published: December 8, 2012; 19:29 ♦ (Vindobona)

For the first time since 2009, Ukraine recorded a negative growth rate last quarter. Weak exports and a shrinking industrial sector are the most pressing issues.

Ukraine Faces Recession / Picture: ©

After a negative growth rate of 1.3% in the third quarter of 2012, Ukraine is expected to continue the negative trend. After a second quarter with negative growth rates, the Ukraine will be formally in a recession. In the first and second quarter of 2012, Ukraine´s economy performed very well. The growth rates came at 2.0% and 3.0% respectively. The recession will be the first since…