Industrial production increased by 8.2%, year-on-year, in April, beating our forecast (6.5%) as well as market consensus (5.7%). Adjusted for the number of working days, industrial production index rose by 5.9%.
The main contributors to the rise in industrial production were manufacture of rubber and plastic products and manufacture of electrical and optical equipment. Export sales of industrial production increased by 19.2%. It seems to be evident that an effect of new capacities finally displayed in industrial figures. The same impact can be observed in foreign trade data.
David Marek