Kazakhstan: Composite PMI rises but remains negative in December
The Tengri Partners Kazakhstan Composite PMI rose to 49.4 in December from November’s 48.9. Consequently, the index remained below the 50.0 no-change threshold, signaling a continued deterioration, albeit at a slower pace, in private sector operating conditions from the previous month.
Meanwhile, the Tengri Partners Kazakhstan Manufacturing PMI rose to 48.6 in December from November’s 48.0. The improvement stemmed from a more moderate decline in new orders. However, output contracted at the fastest rate since January 2022, while employment continued to decline. Regarding prices, both input and output prices rose at a slower pace. Finally, business sentiment dropped to its lowest level since September 2022.
The Tengri Partners Kazakhstan Services PMI rose to 51.4 in December from November’s 49.2. A renewed rise in new orders, in turn boosting output, contributed to the overall improvement. Moreover, employment rose for the first time in five months. Regarding prices, input inflation increased, while output inflation dipped. Finally, business sentiment remained robust but moderated to a three-month low.