Kazakhstan Industry October 2016

Kazakhstan

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.

The analysts we surveyed this month expect the economy to increase 0.3%, which is down 0.2 percentage points from last month’s estimate. For 2017, the panel sees the economy picking up pace and increasing 2.1%, which is down 0.1 percentage points from last month’s forecast.


Author:, Senior Economist

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Kazakhstan Industry October 2016

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Republic of Kazakhstan Agency of Statistics.


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