Kazakhstan’s manufacturing hits new high in August ’24

The Kazakh manufacturing sector reached a new peak of 53.3 on the S&P Global Kazakhstan Manufacturing Purchasing Managers’ Index (PMI) in August 2024, marking six months of strong growth.

A key factor driving the record-breaking growth was a significant increase in employment levels. Fifteen per cent of respondents hired additional staff, often on a full-time basis, according to a latest data revealed by S&P Global on Monday.

Production levels also rose for the sixth consecutive month, reaching the highest rate since September 2023. This growth was fuelled by both planned increases and a response to expanding new orders.

New business reached a one-year high due to increased customer demand, successful tendering, and securing large orders. However, backlogs decreased as firms used their enhanced capacity to finish existing work.

Attribution: S&P Global Kazakhstan Manufacturing PMI report

Subediting: M. S. Salama