KASE publishes on own Internet resource S&P Global PMI reviews of manufacturing and service sectors of Kazakhstan for May

07.06.24 16:22
/KASE, June 7, 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 May 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: "Growth in Kazakhstan's manufacturing sector moved up a gear in May, with output rising to the greatest extent since last September. The current expansion across the sector has now been sustained for three months, providing encouragement for firms to take on extra staff and build up holdings of inputs and finished products. It was particularly pleasing to see reports of firms hiring staff on a full-time basis. "Part of the success firms are having in terms of demand likely in part reflects a relatively benign cost environment, with input prices rising at a pace much softer than seen on average since the survey began in 2019". - Kazakhstan's services PMI: "The Kazakh services sector saw demand trends improve midway through the second quarter. As a result, firms registered a continued and sustained rise in new business, which fed through to a further expansion in services activity. That said, poor weather conditions and financial troubles meant that output rose only fractionally and at a moderated pace. Nonetheless, ongoing gains across the sector allowed some firms to raise their staffing levels. The upturn was only fractional as the vast majority of businesses left their workforce numbers unchanged, however. Looking ahead, confidence levels remained strong, with firms hopeful of further expansions in activity. However, concerns surrounding finances and budgets in part weighed down overall sentiment. Expectations were subsequently the weakest for a year". The reviews are available on KASE website: - https://kase.kz/ru/pmi-indicator/ – in Russian; - https://kase.kz/en/pmi-indicator/ – in English. [2024-06-07]