Kazakhstan: Industrial production growth rises in December
Industrial production expanded 5.4% over the same month of the previous year in December, up from 5.0% year-on-year growth in November.
An acceleration in the mining sub-sector, which rose 6.5% in December (November: +4.4% year-on-year), drove the upturn in the headline figure. This more than offset slower growth in all other sub-sectors. The electricity, gas, steam and air conditioning supply sector suffered the biggest fall in growth (December: +4.1% yoy; November: +6.5% yoy), followed by the manufacturing sector (December: +4.4% yoy; November: +5.6% yoy). In addition, the water supply, sewerage system and waste management sector grew a meagre 0.2% year-on-year in December, half the annual pace of November (+0.4% yoy).
Annual average growth in industrial production edged up to 7.2% in December, up from 6.9% in November—the highest reading since June 2011.