Kazakhstan: Industrial sector swings to contraction in May
June 20, 2019
Industrial production swung to contraction in May, declining 1.6% over the same day last month. This contrasted the 1.9% year-on-year expansion in April and marked the first contraction in output since August 2016.
A breakdown of industrial activities showed a broad-based downturn. The manufacturing sector slowed significantly, while mining output fell more sharply. Moreover, the water supply, sewerage system and waste management sector swung to decline. However, the overall drop was moderated somewhat by a faster expansion in the electricity, gas and steam supply sector.
Annual average growth in industrial production dropped to 2.7% in May from 3.4% in April.
Kazakhstan Indusrial Production Forecast
FocusEconomics panelists expect industrial production to expand 2.8% in 2019, which is down 0.3 percentage points from last month’s forecast, and 3.3% in 2020.
Author: Nihad Ahmed, Economist