Kazakhstan: Industrial production growth jumps in February
March 13, 2018
Industrial production climbed 6.1% over the same month of the previous year in February. The rate of expansion in output came in higher than the 5.2% year-on-year growth registered in January.
Improved growth in industrial output was brought about by a jump in mining output, which grew 6.5% year-on-year in February following a 4.5% annual rise in the previous month. On the flip side, growth of the manufacturing sector in annual terms was robust but moderated slightly from 6.2% in January to 6.0% in February. Moreover, the electricity, gas, steam and air conditioning supply sector lost considerable steam, with the sector’s year-on-year pace of expansion weakening to 5.0% from 6.4% in January. The water supply, sewerage system and waste management sector contracted for the second consecutive month, although the rate of decline softened from the previous month (February: -1.2% year-on-year; January: -3.3% yoy).
Annual average growth in industrial production edged up to 7.4% in February from 7.2% in January, which marked the highest reading since June 2011.
Author: Nihad Ahmed, Economist