FX.co ★ Kazakhstan Industrial Output Growth Slows in May

Kazakhstan’s industrial production increased by 4.7% year-on-year in May 2026, easing from a robust 9.6% expansion in April. The moderation was mainly attributable to slower growth in manufacturing (5.2% vs. 14.1% in April), water supply, waste management, and pollution control (2.9% vs. 8.4%), as well as mining and quarrying (3.0% vs. 9.8%). By contrast, output in electricity, gas, steam, hot water, and air conditioning supply accelerated markedly, surging 16.0% compared with 9.1% in the previous month. On a seasonally weaker base, monthly industrial output growth strengthened to 9.0% in May from 7.2% in April. Over the January–May period, industrial production was up 2.5% from the same period a year earlier.