GDP Increases 1.1% In June.

As a result GDP growth in Jan-Jun totaled 4.0% yoy. Concorde Capital: There has been a steady slow down in GDP growth rates since the start of the year. The GDP has dropped from 6.5% yoy in Jan to 1.1% yoy in Jun. Due to this   drop in Jan-Jun the GDP growth rate is only one third of 2004. (12.7% yoy). The steady slow down in industrial output growth rates from 8.4% yoy in January to 5.0% in June as well as negative growth dynamics in construction (-7.3%) and trade (-2.5%) were behind the lower GDP growth rates this year. Our GDP growth estimate for 2005 stands at 7.0%.