Kazakh industrial output rose by 1.9% y/y in January, according to figures released by the State Statistics Committee on February 13.
The growth was mostly supported by the ongoing rise in the Central Asian country’s oil output. Kazakhstan’s oil output in the first month of 2019 grew by 5.3% y/y to 8mn tonnes.
Hydrocarbon-export-reliant Kazakhstan is presently seeing its oil output boosted by the giant Kashagan oilfield in the Caspian Sea which relaunched in October 2016 - growing oil prices are also supporting the drive to increase oil production.
A rise in the output recorded by Kazakhstan's other extractive sectors also supported growth. Copper ore mining expanded by 11.6% y/y in January to 8.2mn tonnes. Electricity generation fell by 4.1% to 9.9bn kWh.
Portland cement output registered growth of 1% y/y in the month.
Wages remain considerably lower than in the EU, but when compared to productivity, the apparent labour cost advantage of the Western Balkan countries disappears, says study by World Bank and wiiw.
Russia's industrial output growth surged to 4.1% year-on-year in February, after 1.1% posted in January, according to the most recent data by Rosstat agency.
Both industrial production and construction have been weakening since beginning of this year. Industrial production contracted by 1.1% and construction by 13.2% year-on-year in January 2019, according to data by the Czech Statistics Office (CSO) publ
Azerbaijan’s retail trade turnover grew by 2.6% y/y in comparable prices in the first two months of 2019, reaching AZN5.5bn (€2.9bn), the State Statistical Committee of the Republic of Azerbaijan reported.
Year-on-year inflation in Slovakia increased by 2.3% in February, with core inflation amounting to 1.9% and net inflation at 1.7%, the Slovak Statistics Office reported on March 14.