Kazakhstan: Contraction in industrial production softens for fourth consecutive month
January 15, 2016
Industrial production in Kazakhstan contracted in the whole second half of 2015. However, the rhythm of deterioration lessened toward the end of the year. In December, industrial output decreased 2.5% over the same month of the year before and marked the softest decrease in output since August, when output had contracted the most since March 2009.
The softer contraction in December stemmed from a milder drop in mining and quarrying—which continued to reflect less oil production—in manufacturing, as well as in the generation of electricity. Conversely, water supply and sewerage, waste saw a notable deterioration.
Although industrial output’s deterioration softened in December, output contracted 1.6% in the full year 2015. The annual reading came in below the mild 0.2% increase registered in 2014 and marked the steepest decrease in two decades.
Author: Ricardo Aceves, Senior Economist