Kazakhstan: Industrial production contracts in July, falls to a 14-month low
August 17, 2015
Kazakhstan’s industrial production took a hit in July and contracted 2.1% in year-on-year terms. The reading contrasted the 1.3% increase reported in June and marked the deepest fall since June 2014.
The strong contraction resulted from a notable decrease in output of mining and quarrying, a contraction in electricity generation, as well as in water supply. Manufacturing production was the only sub-category that registered an increase in July.
As a result of the sharp decline, the overall trend fell in July. The annual average growth in industrial production fell from 0.7% in June to 0.5% in July.
Author: Ricardo Aceves, Senior Economist