Monthly Industrial Output Down 0.9% YoY In June.

For the first six months of 2005 industrial output increased by 5.0% yoy. Concorde Capital: Judging by the results of January-June 2005, industrial growth rates will remain half of what they were last year, 5.0% so far in 2005 versus 11.2% in 2004. The fall in metallurgy (-1.8% yoy) and coke production (-5.6% yoy) are the result of a worldwide drop in steel prices nearly 20% in May-June. This decline has severely affected industry growth this year. These two industries account for almost 36% of the industry?s total output. Since the start of the year the steady growth rates have been observed in some industries including: the food production (14% yoy), wood & pulp (20.6% yoy) and textile (7.3% yoy) industries. However the share of these industries in total output still remains insufficient to offset a decline in metals and coke production.