Manufacturing in Kazakhstan made return to growth in March, PMI shows

Manufacturing in Kazakhstan made return to growth in March, PMI shows
/ S&P Global.
By bne IntelliNews April 2, 2024

The manufacturing sector in Kazakhstan made a return to growth in March as companies responded to a rise in new orders by ramping up production, employment and purchasing activity, according to the S&P Global Kazakhstan Manufacturing Purchasing Managers' Index (PMI).

Kazakhstan’s PMI score rebounded to 51.6, above the 50.0 no-change mark, following a reading of 49.8 in February. The score signified a modest improvement in business conditions and marked the most significant uptick since last September.

Additionally, business confidence reached its highest level since the inception of the survey in March 2019.

Andrew Harker, economics director at S&P Global Market Intelligence, said: "There were a lot of encouraging signs in the latest S&P Global Kazakhstan Manufacturing PMI. Growth of new orders was built on by renewed expansions in production, employment and purchasing, while firms were bullish regarding future prospects."

"There were even signs that the logistics issues that have plagued the sector for so long may be easing, with supplier lead times lengthening only marginally in March. The positive overall performance hopefully paves the way for further expansions in the months ahead," he added. 


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