Kazakhstan: Industrial production growth declines in October
November 16, 2018
The industrial sector lost steam in October, with output growing at a weaker annual pace of 4.2% in the month, following a 5.5% year-on-year expansion in September.
Looking at a breakdown of the sub-sectors showed that the drop in October was due to a cooling in the mining sector. This overrode the gains made by picks up in the manufacturing and water supply, sewerage system and waste management sectors. While electricity, gas and steam supply continued to decline in October, the rate of contraction eased from the previous month.
Despite a slowdown in the growth of overall industrial output, annual average growth in industrial production edged up to 4.8% in October, from 4.5% in September.
Kazakhstan Industrial Production Forecast
FocusEconomics panelists expect industrial production to expand 4.0% in 2019, which is up 0.1 percentage points from last month’s forecast, and 3.4% in 2020.
Author: Nihad Ahmed, Economist