S&P PMI: Kazakhstan manufacturing sector hits record high of 53.3 in August

The S&P Global Kazakhstan Manufacturing Purchasing Managers’ Index (PMI) reached a record high of 53.3 in August, up from 51.7 in July, surpassing the previous peak of 52.5 in June 2022.

The record improvement in operating conditions was driven by a significant increase in employment, the most notable since the survey began in March 2019.

Staffing levels saw a marked rise as 15 per cent of respondents hired additional staff, often on a full-time basis.

The surge in employment was a direct response to higher output requirements, with production increasing for the sixth consecutive month in August at the sharpest pace since September 2023.

Some firms reported planned production growth, while others attributed the rise to an increase in new orders. New business saw its largest increase in a year, driven by improving customer demand, successful tender wins, and securing new large orders.

“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.” Andrew Harker, Economics Director at S&P Global Market Intelligence, said.

“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.”

Attribution: S&P Global Kazakhstan Manufacturing PMI report

Subediting: Y.Yasser