The Atyrau bridge in Kazakhstan

Kazakhstan PMI February 2024

Kazakhstan: Manufacturing PMI falls in February

The S&P Global Kazakhstan Manufacturing Purchasing Managers’ Index (PMI) fell to 49.8 in February from 50.5 in January. As a result, the index fell below the 50.0 no-change threshold, signaling a deterioration in manufacturing sector operating conditions compared to the previous month.

The latest PMI survey data showed continued challenges in production and employment. Manufacturing output decreased for the fifth consecutive month, driven by input shortages, funding issues, and weak demand. As a result, firms shed jobs. That said, new orders rebounded after declining for four straight months.

Turning to prices, input costs rose sharply for the second consecutive month, leading manufacturers to increase their selling prices and leading to the highest rate of output price inflation in a year. Lastly, business confidence remained robust as firms expressed plans to expand production and expectations of improving demand.

Andrew Harker, economics director at S&P Global, commented on the outlook for the sector:

“There were some glimmers of hope from the latest Kazakhstan manufacturing PMI survey as a renewed expansion in new orders provided optimism that the sector can start to generate output growth over the months ahead.”

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