April Industrial Output Increases 12.3% yoy

Industrial output grew in 4M07 by 12.5% yoy, posting a 12.3% yoy increase in April, according to the State Statistics Committee. Alexander Viktorov: During first four months of 2007 all Ukraine’s core industries experienced strong growth, although it is important to remember the low comparison base of last year. The food industry was up +13.4% yoy, metallurgy +16.4% yoy, chemical +7.8% yoy, while machine building was the fastest growing posting a gain of +22.5% yoy. We expect 7.0% yoy growth in industrial output in 2007.