Kazakhstan: Industrial production growth declines to the lowest in 27 months
The industrial sector slowed markedly in December, with output rising at an annual pace of 0.1% in the month, following a 2.3% year-on-year expansion in November. December’s expansion was the slowest in 27 months.
Looking at a breakdown of the sub-sectors, December’s marked slowdown was due to weaker growth in the mining sector and contractions in the remaining three main sectors. Mining output grew 3.6% in December, following a 5.2% expansion in November. Moreover, the manufacturing sector contracted 5.4%, contrasting a 0.1% upturn in November. The water supply, sewerage system and waste management sector deteriorated at broadly the same pace again as the preceding month, with output dropping 1.7% compared to 1.6% in the November. Meanwhile, electricity, gas and steam supply also contracted in December, but at a softer pace than the previous month. In December, supply declined 0.3% after falling 2.3% in November.
Annual average growth in industrial production dropped to 4.1% in December from 4.6% in November.