National Bank noted the economic revival of basic industries

In February, the growth index of production of basic industries has accelerated - to 10.5% in annual terms (9.8% in January-February compared with the corresponding period last year). This is stated in the report of the National Bank of Ukraine. The main factor for economic revitalization National Bank notes the favorable external economic conditions. Rising prices for metals (35.7% in February, in annual terms) stimulated the production capacity of metallurgy (17.4% in annual terms). Revival of the Russian economy under the influence of increase in oil prices has increased demand for domestic engineering, growth rates which were 30.1%. As a result, industrial production growth accelerated in February to 11.5% in annual terms, 1.1% excluding seasonal factors. An additional factor of industrial expansion was the growing domestic demand, including by restoring consumer lending. The growth of loans in local currency in February was 13.8% in annual terms, in real terms, growth was 6.2%. Domestic consumer demand helped increase the volume of retail trade - up 13.7% in annual terms, stated in the NBU. In 2011, the continued improvement of the financial results of enterprises. So, according to the National Bank, in January, income of enterprises increased by 23.8% in annual terms, while losses decreased by 9.9%. "According to our estimates, real GDP growth accelerated in February 2011 and amounted to about 7% in annual terms. During January-February, GDP grew by about 6.5% compared with the corresponding period last year," - noted in the NBU. On materials FINANCE.UA