December Industrial Output Up 5.3% yoy.

Concorde Capital: Despite the acceleration of the December growth rate, cumulative industry growth is a quarter of what it was last year. The fall in metallurgy (-1.5% yoy), as well as substantial slowdown in machine-building (7.1% in 2005 vs. 28.0% in 2004) were important downward drivers –together these industries account for about 40% of  Ukraine’s total industrial output. This year’s modest industrial output growth was sustained mainly by the chemical sector, which benefited from favorable world markets, and the food segment which was supported by a substantial increase in personal incomes.