Kazakh January industrial output grew 0.7%, missed estimates

ASTANA. February 14. KAZINFORM Kazakhstan's industrial production grew slower than economists forecast in January as steel and copper output slumped.

Output at factories, mines and utilities rose 0.7 percent from a year earlier, down from 2 percent in December and 0.9 percent in November, the Astana-based state statistics agency said on its website. That missed the 1.7 percent median forecast of six economists in a Bloomberg survey.

Rolled-steel output shrank 55 percent to about 100,000 metric tons, the agency said. Copper production dropped 3 percent to 29,100 tons and ferroalloys fell 2.8 percent to about 100,000 tons, the agency said, Kazinform quotes Bloomberg.

Oil and gas condensate production advanced 1.5 percent to 7 million tons, while natural gas grew 1.7 percent to 3.6 billion cubic meters, according to the statement.

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