Kazakhstan: Kazakhstan’s services sector improves at softer rate in April
The S&P Global Kazakhstan Services Purchasing Managers’ Index (PMI) fell to 50.7 in April from 51.0 in March. As a result, the index remained above the 50.0 no-change threshold, but signaled a softer improvement in services sector business activity compared to the previous month.
The downtick in services activity was primarily due to a slower expansion in new business. Moreover, employment levels declined once more as workers resigned—indicating challenges in retaining employees. That said, the sector still experienced an overall improvement in underlying demand trends, contributing to the sustained growth in activity.
On the pricing front, input prices rose at a softer clip compared to the 17-month high logged in the previous month. This enabled some firms to lower their charges and offer discounts, leading to the weakest pace of selling price inflation in four months. Lastly, business sentiment remained largely positive, although confidence fell to an 11-month low, reflecting some concerns about the year ahead.