Industrial growth rate still above 10%

Ac140605_ip term 1_ENcording to the preliminary figures, industrial production expanded by 10.1% in April. Perhaps even more importantly, industrial output adjusted for working days also grew at the same rate, unlike in March – this means that the growth of the working day adjusted production actually accelerated in April following a strong start in Q1.

The seasonally and working day adjusted volume also jumped in April to a level not seen since the first half of 2008. This also suggests another speed-up of industrial activity. This jump, however, may prove temporary, and instead of the continuation of the speed-up, there is a good chance that industrial growth will continue at a somewhat less intense pace. Still, the annual average growth of industrial production in 2014 is likely to expand faster than previously expected; the average growth rate may even hit 7%.