/KASE, February 4, 2026/ – Freedom Holding Corp. has provided Kazakhstan Stock Exchange (KASE) with a review of the Purchasing Managers' Index (PMI) of Kazakhstan's service sector for January 2026.

Below are comments from Yerlan Abdikarimov, Director of the Financial Analysis Department of Freedom Finance Global PLC (a 100% subsidiary of Freedom Holding Corp.).

"In January, Kazakhstan's services sector continued to record growth in business activity and demand. Despite a record increase in selling prices associated with VAT, services are traditionally characterised by lower volatility compared to manufacturing. Thanks to this resilience, the composite PMI was unchanged from its December level (49.7), allowing to avoid a more pronounced decline amid negative dynamics in manufacturing. At the same time, historically low 12- month expectations indicate that the services sector is, for now, offsetting the tax shock through its own margins. While risks of a delayed decline in purchasing power persist, market-reported decisions regarding the renewal of product lines and business models provide grounds to expect the sector to maintain relative resilience".

Review in Qazaq – see more

Review in Russian – see more

Review in English – see more

[2026-02-04]