Kazakhstan: Industrial production grows solidly again in February
March 15, 2017
Kazakhstan’s industrial production increased 4.0% year-on-year in February, which came on top of the 4.9% expansion in January. February’s result marked another month of solid growth, after the index had increased at the fastest pace in five and a half years in January.
The expansion in February resulted from healthy increases in mining and manufacturing, two sectors that continue to show signs of recovery, following a dismal 2016. Developments in utilities were mixed since electricity production continued to expand, while water supply declined for the seventh consecutive month.
February data suggests that Kazakhstan’s industrial production is gradually emerging from the abyss: the annual average variation in industrial production rose from minus 0.7% in January to minus 0.4% in February.
Author: Ricardo Aceves, Senior Economist