UPDATE 1-Kazakhstan's Jan-April industrial growth slows
(Adds details)
By Tatyana Seroshtanova
ALMATY, May 13 (Reuters) - Kazakh industrial growth slowed in the first 4 months of 2008 as copper, steel and iron ore output shrank in key industrial regions and oil production registered a decline in April, official data showed on Tuesday.
Central Asia's biggest economy has shown signs of weakness since mid-2007 when global liquidity problems started to bite into its long-booming banking sector, sparking concerns that credit woes could spill over into the country's wider economy.
The state statistics agency said in a statement industrial output grew 3.5 percent year-on-year in January-April 2008 compared to 9.5 percent in the same period of last year.
Industrial production shrank 3 percent month-on-month in April compared with 10 percent growth in March, it said.
The utilities sector registered the sharpest decline as central heating went off in most parts of Kazakhstan in mid-April due to warm weather.
Oil and mining -- Kazakhstan's key industries -- added to the slowdown, with crude oil output falling 5.6 percent month-on-month in April. Natural gas output shrank 7.3 percent and copper production fell 5.3 percent.
London-listed Kazakhmys (KAZ.L: Quote, Profile, Research, Stock Buzz) accounts for the bulk of Kazakh copper output. The country's total copper output was down 17.5 percent year-on-year in January-April, the agency said. Continued...
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