Kazakhstan Composite PMI

The Tengri Partners Kazakhstan Composite PMI edged down to 49.5 in November of 2022 from 49.8 in October, pointing to the third straight month of contraction in the private sector led by a renewed downturn across the service sector, while goods producers reported growth for the first time in three months. Output showed no growth, thereby ending a six-month run of growth. Meanwhile, employment continued to increase, with manufacturing firms reporting a slightly quicker upturn in payroll numbers during the latest survey period. On the pricing front, both input price and output charge inflation softened to a nine-month low, but remained historically elevated. Lastly, business confidence improved to a three-month high, largely as a result of sentiment strengthening at goods producers.