Kazakhstan’s manufacturing sector PMI sees “record high” improvement in August

Kazakhstan’s manufacturing sector PMI sees “record high” improvement in August

/ bne IntelliNews

By bne IntelliNews September 3, 2024

Kazakhstan’s manufacturing sector in August saw “record high” improvement, according to the monthly S&P Global Kazakhstan Manufacturing Purchasing Managers' Index (PMI).

The PMI was recorded at 53.3, above the 50.0 no-change mark, up from July’s 51.7.

“The strengthening of business conditions was driven by a record increase in employment, as well as faster expansions in both output and new orders. There were also signs of inflationary pressures strengthening, with both input costs and output prices rising more quickly than in July,” S&P Global said in an accompanying statement sent out with the survey data.

“Central to the record improvement in operating conditions was the most marked increase in employment since the survey began in March 2019. Staffing levels rose markedly as 15% of respondents took on extra staff, often on a full-time basis,” the statement added.

Andrew Harker, economics director at S&P Global Market Intelligence, said: "Buoyant demand spread through the manufacturing sector in August, culminating in a record expansion in employment and the most marked improvement in the health of the sector since the survey began in March 2019. Although there are some doubts among firms that growth will continue at current levels, we should hopefully at least see the expansion in the sector settle at a sustainable pace over the months ahead."

#Kazakhstan #manufacturing #PMI #employment #CentralAsia #S&P

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