Industrial output unexpectedly jumped by 5.2% y-o-y in April, the biggest increase in over two years

Industrial output unexpectedly jumped by 5.2% y-o-y in April, the biggest increase in over two years, reports the State Statistics Service. The locomotive was construction, growing by 30% y-o-y. While residential construction was almost flat, infrastructure construction was up 45% and the commercial was up 41%. Other hot spots identified by Alfa Bank are: food processing up 6.6% y-o-y; steel up 9.9%; maching building up 10.8% and chemical production up 14.7%.