Industrial Output Up 0.5% yoy.

In January-April industrial output grew by 0.4% yoy. The fall in metallurgy (-1.4% yoy) and chemical (-3.0%) output remained the main retractor for industry growth. At the same time the machine-building (+12.5%) and food (+3.5%) sectors continue to be the main growth driving factors. We estimate industrial output growth for 2006 to be at 4.0%.