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Russia’s CBR maintains key rate at 16%
2 days ago
The Purchasing Managers' Index (PMI) survey data for Kazakhstan's manufacturing sector in February indicates a deterioration despite growth in new orders, according to the accompanying statement issued with the outcome by S&P Global.
The headline manufacturing PMI for February fell below the 50.0 no-change mark to 49.8 (from 50.5 in January), signalling a contraction.
“While overall business conditions in the Kazakhstan manufacturing sector deteriorated in February amid reductions in output, employment and stocks of inputs, there were some signs of encouragement for manufacturers as new orders increased for the first time in five months,” the statement said. “Meanwhile, the rate of input cost inflation quickened and output prices were raised to the largest extent for a year.”
Output declined for the fifth consecutive month, as reported by panellists, who cited shortages of raw materials and funding issues, compounded by recent weakness in demand.
Andrew Harker, economics director at S&P Global Market Intelligence, said: "There were some glimmers of hope from the latest Kazakhstan manufacturing PMI survey as a renewed expansion in new orders provided optimism that the sector can start to generate output growth over the months ahead.
"For now, however, issues with staffing, material supply and rising costs are limiting opportunities for growth and contributing to falling output volumes."
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