Daily Insight-Nov. industrial production slows, steelmakers show losses in 10M10,VAB bank, new bond issues

Industrial production growth slowed down to 9.9% YoY in November, from 10.2% in both October and September, according to the State Statistics Committee of Ukraine. In 11M10, industrial output growth continued slowing down, though marginally, equaling 10.6% YoY, compared with 10.7% in 10M10 and 10.8% in 9M10. On a MoM basis, November\\\'s industrial output decreased 2.2%. The gradual slowing of industrial output is not big news to the market, as the cumulative industrial output growth trend has been heading marginally downwards since April, which is linked with the slowing demand in the world markets, after a short period of recovery in 1Q10. In the autumn months, a slowdown in industrial production growth is also linked with the high base of comparison, as it is from autumn last year that Ukraine\\\'s economy started demonstrating positive growth rates.