/KASE, November 5, 2024/ – Freedom Holding Corp. has provided Kazakhstan
Stock Exchange (KASE) with reviews of the Purchasing Managers' Index (PMI)
of manufacturing and services in Kazakhstan for October 2024.
Below are comments from Yerlan Abdikarimov, Director of the Financial Analysis
Department of Freedom Finance Global PLC (a 100% subsidiary of Freedom
Holding Corp.).
– On the index of manufacturing industries in Kazakhstan:
""Kazakhstan's manufacturing industry is showing stability, with growth
potential remaining in the coming months. Demand, albeit at a slower pace,
continues to grow: production and new orders have been in the optimistic zone
for eight months in a row. At the same time, October was marked by both one of
the strongest slowdowns in production growth this year and a sharp increase in
the number of new jobs. We associate the latter with improved short-term
expectations amid the signing of new contracts. Among the restraining factors is
the extension of delivery times. The weakening of inflationary pressures,
although generally a positive factor, nevertheless limits the growth of sales
prices and slows down the growth of revenue".
– On the index of the service sector of Kazakhstan:
"In October, activity in Kazakhstan's service sector declined again, driven by a
reduction in new orders amidst high competition and declining customer activity.
Nevertheless, the sector demonstrated expansion in the labour market, recording
employment growth for the second consecutive month, albeit at a somewhat
slower pace that lagged industrial enterprises. The continued easing of cost
inflation pressures led to a restraint on the rate of price growth among service
providers, reaching its lowest level in the past four years. Despite these
challenges, market participants remain optimistic about the future, expecting
new contracts and investment opportunities to boost activity in the next twelve
months".
Reviews are published on KASE's Internet resource:
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https://kase.kz/ru/pmi-indicator/ – in Russian;
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https://kase.kz/en/pmi-indicator/ – in English.
[2024-11-05]