GDP Up 0.9% yoy In January.

According to the State Statistics Committee the nominal GDP value in January totaled USD 5.9 bln. Concorde Capital: January’s moderate GDP growth can be explained by the 2.9% yoy fall in industrial output and continuing decline in construction (-8.1% yoy). Positive signs came from wholesale & retail trade activity: +0.7% yoy against 8.3% yoy fall in 2005. Rapidly growing retail trade (+31.3% yoy) seems to be offsetting the decline in wholesale trade. Agricultural (+4.3%) and utility (+13.2%) sectors were other important GDP growth factors.