Kazakhstan’s services Purchasing Managers’ Index (PMI) fell to 50.6 in October from 51.4 in September, pointing to a slowdown in growth for the third consecutive month.
The index ranges from 0 to 100, with readings above 50 signaling expansion. The slower growth coincided with a stagnant new business index, as overall new order volumes remained broadly unchanged, ending a seven-month streak of continuous expansion.
Employment dipped back into contraction territory, with payroll cuts reported in 12 of the last 14 survey periods. Inflationary pressures mounted as input cost inflation ran noticeably ahead of output charge inflation, with service prices rising only slightly in October.
Freedom Holding Corp. has sponsored the S&P Global Kazakhstan PMI since early October 2024.