Kazakhstan: Growth in industrial production decelerates slightly in July
August 16, 2017
Industrial production expanded 7.4% in July over the same period last year, down slightly from June’s 7.5% rise. Despite the deceleration, July’s print was solid nonetheless and rounds out five months of strong industrial production.
A more detailed look at the print shows that both the mining sector and growth in the provision of electricity, gas and air conditioning slowed in July, although they did both still post robust expansions. Manufacturing output, on the other hand, accelerated slightly in July. Annual average industrial production growth rose to 4.2% in July from 3.6% in June, the highest reading in over six years.
A solid performance in the mining sector as well as robust growth in oil and coal production fueled economic activity in the first half of the year and are continuing to drive expansion through Q3.
Author: Lindsey Ice, Economist