Kazakhstan: Industrial production accelerates in October
November 16, 2016
Kazakhstan’s industrial production picked up momentum and accelerated from a 0.1% year-on-year increase in September to a 1.2% expansion in October. The result marked the strongest increase in 16 months.
October’s acceleration stemmed solely from a substantial improvement in mining and quarrying, driven by a partial recovery in oil and metal prices. Conversely, manufacturing production and electricity generation deteriorated from the previous month.
Due to October’s improvement, the decline in industrial production ceased and the overall trend is now pointing upwards. The annual average variation in industrial production rose from minus 2.3% in September to minus 1.9% in October.
Author: Ricardo Aceves, Senior Economist