Diverging Indices: Why Business Activity in Kazakhstan Is Growing and Falling at the Same Time

The Halyk Business Index, compiled by Halyk Bank of Kazakhstan and Halyk Finance, increased by 0.6 points to 103.4 in July, hitting a high for the year. The biggest gains in activity were recorded in electricity supply, agriculture, manufacturing, and transport. At the same time, the National Bank of Kazakhstan’s PMI index fell for the second consecutive month, dropping into negative territory.