The Euro 2012 football championship held in Ukraine and an early start to this year's harvesting campaign pushed up the production index of basic industries to 3.4% year on year in June (3.2% in May). In the first half of 2012, the cumulative growth rates reached 2.5% (2.2% in January – May).

As a result of hosting the Euro 2012 football championship in Ukraine, the retail trade turnover growth accelerated to 18.3% year on year in June (17.9% in May); food industry has maintained an annual growth rate of 3%; the number of air passengers and train passengers increased by 10.9% and 0.7% respectively in the first half of 2012, as compared with the corresponding period of the previous year; the volume of services rendered maintained a growth rate of 12.6% in the first half of 2012. 

On the other hand, due to the completion of construction projects related to the Euro 2012 football championship, construction output fell by 8.9% year on year in June (according to estimates made by the Department of Economic Analysis and Forecasting (hereinafter referred to as the Department). In the first half of 2012, construction output dropped by 1.9%, as compared with the corresponding period of the previous year.  

Owing to an early start to this year's harvesting campaign, the agricultural output growth accelerated from 2.5% year on year in May to 28% in June, making the largest contribution to the increase in the production index of basic industries (3.2 p. p.).

The unfavourable situation in external markets had adverse implications for economic growth. In June 2012, the output of machine building and metallurgical industry fell by 8.9% and 0.8% year on year respectively. As a result, industrial output contracted by 1.4% year on year in June.

According to estimates made by the Department, GDP growth stood at 2.5% in the first half of 2012 versus the corresponding period of the previous year, with GDP growing at a much faster pace than the production index of basic industries in June.