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Kazakh January Industrial Output Grew 0.7%, Missed Estimates

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 today on its website. That missed the 1.7 percent median forecast of 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.

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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