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Financial News: Kazakhstan Manufacturing Sector Remains In Contraction Zon

Kazakhstan Manufacturing Sector Remains In Contraction Zone

05/03/2022 - 07:49:00 (RTTNews)

(RTTNews) - Kazakhstan's manufacturing activity continued to remain in contraction territory in April amid high inflationary pressures and intensified supply constraints, survey data from Tengri Partners and S&P Global showed on Tuesday.

The purchasing manager's index for the manufacturing sector rose to 49.0 in April from 46.8 in March. Any reading below 50 indicates contraction in the sector.

New orders declined for the fifth consecutive month in April due to rising prices and a lack of demand. Manufacturing production also dampened further on the backdrop of unstable raw material prices, supply shortages and sanctions imposed on Russian companies.

Currency fluctuations and higher prices for goods sourced from Russia drove input price inflation to a five-month high in April. Manufacturers passed on the increased cost to clients and output prices grew at a faster pace.

Vendor performance deteriorated to the greatest extent in three months as imposition of sanctions upon Russia led to logistical difficulties.

However, the employment situation was more positive as staffing levels stabilized in April following nine months of decline.

Business confidence recovered in April although firms note a high degree of unpredictability.

"Firms will need greater geopolitical stability to help improve domestic economic conditions and support returns to growth of output, sales and employment in order to bring the current downturn to an end," Anuar Ushbayev, managing partner and chief investment officer at Tengri Partners, said.

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