Kazakhstan: Services PMI hits 10-month high in July
The S&P Global Kazakhstan Services Purchasing Managers’ Index (PMI) rose to 51.4 in July from 50.2 in June, the highest level since September 2023. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in the services-sector business activity index compared to the previous month.
July noted the quickest increase in new business in seven months, which firms attributed to increased competitiveness, stronger market demand, and new contract wins. Moreover, staffing levels remained broadly unchanged in July, contrasting job shedding in the previous month.
Turning to prices, despite rising slightly due to an unfavorable exchange rate, input cost inflation remained modest and was one of the slowest in the past four years. As a result, output charges also rose only slightly. Lastly, business confidence rose from June’s 13-month low, supported by expectations of rising client activity levels plus plans for business expansion and increased advertising.