/KASE, June 7, 2023/ – Tengri Partners Investment Banking (Kazakhstan)
JSC (Almaty) has provided Kazakhstan Stock Exchange (KASE) with the
Purchasing Managers' Index (PMI) of manufacturing and services sectors of
Kazakhstan for May 2023.
Below are comments of Anuar Ushbayev, Managing Partner and Investment
Director of Tengri Partners Investment Banking (Kazakhstan) JSC.
- Kazakhstan's manufacturing PMI:
"The success firms have been having in securing new orders had positive
impacts across many of the PMI survey indicators in May. Production was raised
again, boosted by a renewed expansion in employment. Most strikingly, the
desire by firms to keep on top of workloads encouraged them to build up
inventories of inputs to an extent unseen in the survey up until now.
"Firms are enjoying a spell of growth at present, and expressed confidence that
this will continue in the months ahead thanks to positive forecasts regarding
new orders".
- Kazakhstan's services PMI.
"The latest PMI data for Kazakhstan’s service sector signalled a further
improvement as underlying demand trends supported strong upturns in new
business and activity. In fact, growth in new work was the fastest recorded in
the survey to-date. That said, firms remained cautious. While some companies
raised staffing levels, this was not enough to prevent a renewed fall in
employment as many more struggled to retain workers amid frequent reports of
resignations. Additionally, price pressures also intensified during the latest
survey period. Higher prices emanating from suppliers and increased costs for
labour, material and energy translated into higher service charges.
"Looking ahead, sentiment across the sector was muted. Confidence across
Kazakh services firms slipped for the fourth consecutive month to the lowest
since April 2020. Firms remain wary of prices and logistical issues impacting
near-term growth".
The reviews are available on KASE website:
-
https://kase.kz/ru/pmi-indicator/ – in Russian;
-
https://kase.kz/en/pmi-indicator/ – in English.
[2023-06-07]