February Industrial Output Up 1.5% yoy.

In January-February industrial output declined by 0.6% yoy. Concorde Capital: Despite the acceleration of growth rates in February it was not enough to offset a fall of 2.9% yoy in January resulting in 2M06 decline of 0.6% yoy. The metal and chemical sectors continued to be the main detractors for industry growth, posting declines of 4% and 2.7% respectively in 2M06. At the machine-building and the food industries were major drivers for industrial output growth: +8.6% yoy and 8.0% yoy respectively. These two sectors account for 25% of total industrial output and if growth persists, it may offset the decline in the metal and chemical segments.