/KASE, November 7, 2023/ – Tengri Partners Investment Banking (Kazakhstan) JSC (Almaty) has provided Kazakhstan Stock Exchange (KASE) with the Purchasing Managers' Indices (PMI) of manufacturing and services sectors of Kazakhstan for October 2023.

Below are comments of Anuar Ushbayev, Managing Partner and Investment Director of Tengri Partners Investment Banking (Kazakhstan) JSC.

• Kazakhstan's manufacturing PMI:

"After a good run of growth it is concerning to see that come to an abrupt halt in October. Hopefully the drop in demand will prove to be just a blip rather than the start of a sustained downturn.

"Firms themselves were confident enough to keep raising employment and purchasing activity despite the slowdown, ramping up stocks to an extent previously unseen in almost five years of data collection."

• Kazakhstan's services PMI:

"The start of the final quarter signalled sustained growth across Kazakhstan’s service sector. Business activity and new orders grew for the eighth and tenth successive months respectively.

Firms noted that improving underlying demand trends supported the latest upturn. That said, the data also revealed a loss of growth momentum, as in both the cases the rates of increase softened in October. Moreover, firms also struggled to maintain their staffing levels, with resignations reported widely again. Despite the slight slowdown, firms remained optimistic, with confidence strengthening to a 15-month high."

The reviews are available on KASE website:

• see more – in Russian;
• see more – in English.

[2023-11-07]