HR: April industrial production increased 6.5% y/y

Industrial production maintained positive momentum, posting 6.5% y/y increase in April, thus showing strong acceleration compared to March figure (3.2% y/y). Detailed structure revealed vivid performances across the board, where strongest positive contribution came from double-digit energy increase. On the other hand, negative pressure only came from decline in consumer durables. While YTD industrial production print remains strong, being also supported by the low base effect, going forward we see certain pressures as challenging external demand prospects open room for some volatility down the line.