Ukraine GDP likely to shrink a further 8.5% y/y in 2015: Danske Bank

Quotes from Danske Bank:

-Ukraine final GDP growth data for Q3 14 showed that the recession deepened further in the quarter: the economy contracted 5.3% y/y versus a 5.1% y/y fall the previous quarter. As the economic situation deteriorated dramatically in Q4 14 on accelerating inflation, a substantial fall in consumer purchasing power, and heavy fighting in Eastern Ukraine, we expect GDP to fall 14% y/y Q4 14 and shrink a further 8.5% y/y in 2015.