Kazakhstan: Industrial production jumps in March
April 15, 2017
Kazakhstan’s industrial production increased 8.3% year-on-year in March, which came in above the 4.0% expansion in February. March’s result marked the fastest growth rate since November 2010.
The expansion in March resulted from healthy increases in mining and manufacturing, two sectors that continue to show signs of recovery, following a dismal 2016. Developments in utilities were also encouraging since electricity production continued to expand, while water supply grew after seven consecutive months of decline.
March data suggests that Kazakhstan’s industrial production is gradually emerging from the abyss: the annual average variation in industrial production swung from minus 0.4% in February to plus 0.5% in March.
Author: Ricardo Aceves, Senior Economist