Kazakhstan: Industrial production growth eases considerably in March
April 18, 2018
Industrial production growth eased substantially to 4.7% year-on-year in March, following a 6.1% expansion in February.
Looking at a breakdown of the sub-sectors, the mining and electricity, gas, steam and air conditioning supply sectors both lost pace in March. Mining output grew 4.3% year-on-year in March compared to 6.5% in the preceding month, while electricity, gas, steam and air conditioning supply rose a meager 1.0% (February: +5.0% year-on-year). Conversely, the manufacturing sector gained traction, expanding 6.5% yoy in March after growing 6.0% in the previous month. Meanwhile, the water supply, sewerage system and waste management sector contracted for the third month running, with the rate of contraction dropping slightly, from 1.2% in February to 1.1% in March.
Annual average growth in industrial production edged down from 7.4% in February to 7.1% in March.
Author: Nihad Ahmed, Economist