Kazakhstan: Industrial production posts another month of strong gains in May
June 15, 2017
Industrial production expanded by an impressive 10.7% in May, inching down from April’s nearly seven-year high of 10.9%. May’s print further suggests that industrial output has put last year’s slump firmly in the rearview, and follows four strong months of growth since the outset of the year.
A breakdown of the print shows that a surge in the mining sector (+14.8% year-on-year) drove May’s expansion. Despite decelerating from a month earlier, the manufacturing (+6.9% yoy) and electricity, gas and air conditioning (+5.8% yoy) sectors also posted healthy gains in May. Annual average industrial production growth jumped to 3.0% in May from 1.6% a month earlier and was the strongest print in over five years.
Author: Christopher Thomas, Economist