Kazakhstan: Industrial production contracts less in September
October 15, 2015
Industrial production in Kazakhstan continued to contract in September, although the pace of contraction moderated compared to the previous month. In September, industrial output decreased 4.2% over the same month last year, which came in above the 6.4% plunge observed in August. August’s print had marked the sharpest drop since March 2009.
The relatively milder contraction in September resulted from an expansion in manufacturing output, which increased 2.4% annually and contrasted the 1.2% decrease observed in August. Conversely, mining and quarrying, electricity generation and water management continued to deteriorate in September.
With September’s decrease, the output trend continued to suggest that a recovery in industrial production is not foreseeable in the coming months. The annual average variation in industrial production fell from minus 0.1% in August to minus 0.4% in September, the weakest level since October 2009.
Author: Ricardo Aceves, Senior Economist