Kazakhstan: Industrial production growth picks up at the outset of the new year
February 19, 2019
The industrial sector regained some lost ground in January following a marked slowdown in December. In January, industrial output grew 1.9% over the same month of the previous year, after a meagre 0.1% year-on-year expansion in December.
A breakdown of the sub-sectors showed that January’s upturn was across-the-board. The water supply, sewerage system and waste management sector saw the biggest turnaround, rebounding sharply. Meanwhile, mining output accelerated, and the electricity, gas and steam supply also returned to growth, albeit mild, following five months of contraction. However, manufacturing output saw another notable drop, although the rate of contraction eased slightly from the previous month.
Annual average growth in industrial production fell to 3.9% in January from 4.1% in December
Kazakhstan Industrial Production Forecast
FocusEconomics panelists expect industrial production to expand 3.3% in 2019, which is down 0.6 percentage points from last month’s forecast, and 2.9% in 2020.
Author: Nihad Ahmed, Economist