Abstract
Analysis of the industrial production dynamics shows that the decline in manufacturing output continues, while the extracting sector has been demonstrating a stable positive trend recently. If in the short-term perspective the economy is not shattered by any new terms of trade shocks, significant expansion of the imposed economic sanctions or financial instability, there will emerge some grounds for a cautious optimism: the general industrial production index may depart from the 'bottom' as early as the end of the year 2015.
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