Kazakhstan: Industrial production growth continues to lose steam in November
December 17, 2018
The industrial sector continued to lose pace in November, with output growing at a weaker annual pace of 2.3% in the month, following a 4.2% year-on-year expansion in October.
Looking at a breakdown of the sub-sectors, the deterioration in November was primarily due to a marked slowdown in the manufacturing sector—which grew at the slowest pace since October 2016—and a swing from expansion to contraction in the water supply, sewerage system and waste management sector. Moreover, electricity, gas and steam supply contracted at a sharper rate in November compared to the previous month. On the upside, mining output picked in the month, growing at more than twice the pace as October.
Meanwhile, annual average growth in industrial production edged down to 4.6% in November, from 4.8% in October.
Kazakhstan Industrial Production Forecast
FocusEconomics panelists expect industrial production to expand 4.1% in 2019, which is up 0.1 percentage points from last month’s forecast, and 3.3% in 2020.