/KASE, April 17, 2024/ – Tengri Partners Investment Banking (Kazakhstan)
JSC (Almaty) has provided Kazakhstan Stock Exchange (KASE) with S&P
Global PMI reviews of the manufacturing and service sectors of Kazakhstan for
March 2024.
Below are comments of Andrew Harker, Economics Director at S&P Global
Market Intelligence, and Maryam Baluch, Economist at S&P Global Market
Intelligence.
- Kazakhstan's manufacturing PMI:
"There were a lot of encouraging signs in the latest S&P Global Kazakhstan
Manufacturing PMI. Growth of new orders was built on by renewed expansions in
production, employment and purchasing, while firms were bullish regarding future
prospects.
"There were even signs that the logistics issues that have plagued the sector
for so long may be easing, with supplier lead times lengthening only marginally
in March. The positive overall performance hopefully paves the way for further
expansions in the months ahead".
- Kazakhstan's services PMI:
"The Kazakh service sector signalled solid growth in business activity during
March, shrugging off the contractions seen in the first two months of the year.
Anecdotal evidence pointed to improved demand conditions which helped revive
growth in new orders and activity. Additionally, though employment has been
falling for the past two months, if demand can be sustained, this allows
opportunities for growth in workforce numbers.
"In terms of inflation, rising labour and material prices pushed cost burdens
higher. However, there were some signs that Kazakh service companies
refrained from passing the entirety of their costs on to customers, as the rate
of charge inflation moderated on the month. Lastly, firms were hopeful that
demand conditions will improve and in turn support further expansions in
activity in the coming year".
The reviews are available on KASE website:
-
https://kase.kz/ru/pmi-indicator/ – in Russian;
-
https://kase.kz/en/pmi-indicator/ – in English.
[2024-04-17]