BAKU, Azerbaijan, June 12. Kazakhstan's Purchasing Managers' Index (PMI) remained positive in May 2023, standing at 53.2 points, just slightly below the previous month's rate of 53.3, Trend reports.
The PMI is a key economic indicator that reflects the overall state of the manufacturing industry and services sector. A reading above 50 indicates expansion, while a reading below 50 suggests contraction. Despite a marginal decline, the PMI for Kazakhstan remains comfortably above the growth threshold, signaling continued economic stability.
According to the Eurasian Development Bank (EDB), the strengthening influx of new orders is motivating producers in the manufacturing and services sectors to increase productivity levels.
However, companies still express concerns about the potential deterioration of the global supply chain situation, which could result in inflationary pressures. The ongoing challenges in logistics and shipping, coupled with rising commodity prices, are potential risk factors that businesses are closely monitoring.
Despite these uncertainties, experts anticipate that these risk factors will gradually diminish in the remaining months of the year. Based on current assessments, the EDB projects Kazakhstan's GDP to grow by 4.3 percent in 2023.
