/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]