April GDP Slows To 3.9% YoY

April GDP Slows To 3.9% YoY resulting in 5% YTD GDP growth. In 1Q05, GDP grew 5.4% yoy (Mar 5.2%, Feb 4.5% and Jan 6.5%). Concorde Capital: A 3.8% m-o-m reduction in industrial output in April contributed to GDP slow down. Positive signs come from agriculture that has been demonstrating a steady growth since the year start: from 3.7% in Jan to 4.6% in Jan-Apr. However, due to its minor share in GDP, agriculture development is unable to offset decrease in industry.