FX.co ★ Kazakhstan Industrial Output Growth Slows to 4-Month Low

Kazakhstan witnessed a 5.8% year-on-year increase in industrial production in May 2025, a slight deceleration from the 6.2% growth observed in the previous month. This represents the slowest growth rate since January, with particularly notable moderation in the manufacturing sector, which grew by only 1.2% compared to 2.9% in April. Moreover, declines persisted in activities related to water supply, waste collection and treatment, and pollution elimination, registering a 6.1% contraction, slightly better than the 6.3% decrease in the prior month. Conversely, production expanded further in sectors such as electricity, gas, steam, hot water, and air-conditioning supply, which returned to growth with a rate of 6.3% up from 2.4%, and in mining and quarrying, which saw an increase to 10.4% from 10.1%. On a month-to-month basis, industrial production decreased by 1.1% in May, following a 2.7% decline in the earlier period.