Kazakhstan: Services PMI inches down in May, but remains in expansionary territory
The S&P Global Kazakhstan Services Purchasing Managers’ Index (PMI) fell to 50.5 in May from 50.7 in April. As a result, the index remained above the 50.0 no-change threshold but signaled a softer improvement in services-sector business activity compared to the previous month.
May’s downtick was attributed by firms to poor weather conditions and financial challenges, which restricted some business operations. That said, new orders expanded at a faster clip, indicating improving underlying demand trends. Additionally, service providers reported new contract wins, and employment rose for the first time in 2024 so far.
On the pricing front, input cost inflation slowed to its lowest rate since August 2020. As a result, output charges increased at the weakest pace in five months. Lastly, while financial concerns led confidence to dip to a one-year low, firms remained generally optimistic about the future as they expect new products and increasing client activity to drive further output gains.