Kazakhstan: Industrial output accelerates in November

Industrial output expanded 6.8% compared to the same month a year earlier in November, which was above October's 4.2% increase. The notable pickup was largely driven by an improvement in manufacturing output. Contrastingly, electricity production slowed down significantly.

Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at an over one-year high of plus 2.9% in November, up from October's 2.1% reading.

FocusEconomics panelists project industrial production to grow 3.4% in 2022, which is down 0.2 percentage points from last month’s forecast. In 2023, they see it also expanding 5.2%.