Kazakh manufacturing PMI signals renewed growth in November

Kazakh manufacturing PMI signals renewed growth in November
/ bne IntelliNews
By bne IntelIiNews December 5, 2022

Kazakhstan's manufacturing sector signalled renewed growth in November, continuing the trend seen in October, according to the latest purchasing managers' index (PMI) survey data from Tengri Partners and IHS Markit.

The index posted 51.9 in November, following October's 51.4.

The survey noted that despite renewed growth in output and new orders, severe supply chain disruption continued with muted rates of improvement across the sector. Disruptions in logistics caused by the war in Ukraine have led delivery times to lengthen with a number of firms highlighting delays in the delivery of goods from Russia. 

Anuar Ushbayev, managing partner and chief investment officer at Tengri Partners, said: "November was a positive month for manufacturers in Kazakhstan as they were able to generate renewed expansions in output and new orders. Firms were also increasingly optimistic for the coming year as sentiment jumped to a 20-month high.” 

"Severe supply-chain disruption continued, however, and this remains the main headwind to growth as firms struggle to find solutions to the significant logistics issues caused by the war in Ukraine and sanctions on Russia," he added.  

The headline Kazakhstan Manufacturing PMI is a composite single-figure measure of manufacturing performance. Any figure below 50.0 represents a deterioration. Growth was marked by new orders expanding amid some signs of growth slowing, while production was broadly unchanged.