COVID-19 and Trump’s indifference helped human rights abusers in 2020
Durov rejects Western funds’ offer to buy 5%-10% of Telegram with $30bn valuation
Belarusian government sees $2bn of withdrawals, issues $580mn worth of bonds in 2020
Lukashenko: I am no enemy of the people
One of Russia’s biggest wood product companies, Segezha could be Sistema’s next IPO
The volume of the Russian National Wealth Fund tops $183.93bn as gold overtakes dollar asset for first time
New Ukrainian VC firm QPDigital aims to invest up to $100 million in digital startups
EBRD investments reach record €11bn in pandemic-struck 2020
FPRI BMB Ukraine: Most Ukrainians are optimistic about 2021 – poll
OUTLOOK 2021 Lithuania
EBRD says loan to Estonia’s controversial Porto Franco project was never disbursed
Estonian premier quits after Tallinn development scandal
Top Centre Party official suspected of corruption in Tallinn real estate scandal
Czech Pirates and Mayors approve final coalition agreement for 2021 elections
OUTLOOK 2021 Czechia
BRICKS & MORTAR: Rosier future beckons for CEE retailers after year of change and disruption
Romanian tech entrepreneurs expand into banking sector
OUTLOOK 2021 Hungary
Hungarian government remains silent after Capitol riots
Storming parliaments: New Europe's greatest hits
World Bank expects modest recovery for Europe and Central Asia in 2021
FDI inflows to CEE down 58% in 1H20 but rebound expected
OUTLOOK 2021 Slovakia
Slovakia to invest €1.2bn in digitisation
BALKAN BLOG: The controversial recipe for building up Albania
Heavy flooding causes chaos in parts of Southeast Europe
Vodafone Albania plans €100mn infrastructure investments after AbCom merger
OUTLOOK 2021 Albania
Kyiv accuses Bosnian President Dodik of lying about icon gifted to Russian foreign minister
Bosnia’s real GDP contracts 6.3% y/y in 3Q20
Sofia-based LAUNCHub Ventures holds first close of new fund on €44mn
ING THINK: Growth in the Balkans: from zero to hero again?
OUTLOOK 2020 Bulgaria
Labour demand down 28% y/y in Croatia in 2020
Zagreb Stock Exchange's Crobex10 index at highest level since March 5
OUTLOOK 2021 Kosovo
Arrera Automobili aims to launch Albania’s first supercar
World Bank revises projection for Moldova’s 2020 GDP decline to 7.2%
Moldova’s PM resigns to prepare the ground for early elections
Socialist lawmakers in Moldova scrap settlement on $1bn bank frauds
Montenegro’s new ruling coalition carves up top state jobs
OUTLOOK 2021 Montenegro
Vast tide of floating waste threatens Balkan hydropower plants
North Macedonia's manufacturing confidence indicator down by 8.5 pp y/y in December
OUTLOOK 2021 North Macedonia
Transparency International warns of high corruption risk in CEE defence sectors
Moldova fears flooding from Ukraine's planned Dniester hydropower plants
Romania’s industrial recovery paused in November
OUTLOOK 2021 Serbia
Slovenia’s government to release funds to news agency STA after EU pressure
UK Moneyhub picks Slovenia for post-Brexit European base
Slovenia’s dire COVID-19 situation in 4Q20 caused second economic dip
Slovenia’s Eligma completes €4mn funding round
Turkish opposition leader lawsuit demands one lira from Erdogan, police probe “bald” interior minister posts
Akbank takes over Istanbul's Palladium Atasehir shopping mall
OUTLOOK 2021 Armenia
Armenia’s PM cautions conflict with Azerbaijan “still not settled” after trilateral meeting with Putin
COMMENT: Record high debt levels will slow post-coronavirus recovery, threaten some countries' financial stability, says IIF
Russia, Kazakhstan pushing for oil production increases on the back of coronavirus vaccine-fuelled oil price optimism
OUTLOOK 2021 Georgia
Georgia’s political kingpin Bidzina Ivanishvili quits politics
Modern-day “Robin Hood” inspires Georgians drowning in debt
Iran’s navy conducts missile drill while analyst argues Trump even capable of nuclear strike in final days
TEHRAN BLOG: Who’s more credible? Johnson backing Trump’s Nobel chances or Iran applauding arrest warrant for US president?
Central Asia vaccination plans underwhelm, but governments look unruffled
Fears of authoritarianism as Kyrgyz populist wins landslide and backing for ‘Khanstitution’
OUTLOOK 2021 Kyrgyzstan
Mongolia's winter dzud set to be one of most extreme on record says Red Cross
Mongolian coal exports to China paralysed as Beijing demands virus testing of truck drivers
Mongolia fears economic damage as country faces up to its first local transmissions of coronavirus
Mongolia in lockdown after suffering first local coronavirus transmissions
OUTLOOK 2021 Tajikistan
China business briefing: Not happy with Kyrgyzstan
OUTLOOK 2021 Turkmenistan
Turkmenistan: How the Grinch stole New Year
Turkmenistan: The dammed united
COMMENT: Uzbekistan is being transformed, but where are the democratic reforms?
OUTLOOK 2021 Uzbekistan
Uzbekistan’s Makro positions itself for growth in a more competitive market
Download the pdf version
More...
Operating conditions across the Kazakh manufacturing sector “eased” in October following a September rebound , according to the latest Tengri Partners Kazakhstan Manufacturing Purchasing Managers’ Index (PMI). The index posted 50.8 in October, down from 52.6 in September, the PMI survey report released by IHS Markit showed on November 2.
Anything above 50.0 signifies an overall expansion and anything below 50.0 represents a deterioration. The survey panellists linked the much reduced pace of improvement in October to both a near stalling of output growth and a slower expansion in order book volumes.
Anuar Ushbayev, managing partner and chief investment officer at Tengri Partners, said: "The latest PMI data highlight a notable bump in the road in the recovery of the Kazakh manufacturing sector, with the headline figure slipping back to a contraction footing and signalling a deterioration in operating conditions."
He added: "Overall, the renewed downturn is disappointing given June's record performance, and muted client demand remains the the most significant threat to the sector’s recovery."
“[...] business sentiment was the weakest since April, with panellists citing concerns surrounding the coronavirus disease 2019 (COVID-19) pandemic,” the report said.
“The seasonally adjusted Output Index shed nearly five points on the month and registered only just above the 50.0 threshold, with companies in some sectors noting that quarantine restrictions had continued to hamper factory production,” it added.
Nevertheless, new order inflows continued to rise and extended the current growth trend to three months. The latest uptick was related to an increase in the number of contracts for advance orders and improved client demand. The rate of expansion was marginal, despite easing from September.
“In line with a sustained improvement in demand conditions, Kazakh goods producers were optimistic overall with regards to their expectations for output over the year ahead,” the report noted. “Sentiment moderated to a six-month low and was heavily subdued in the context of the series history, however, with some respondents citing concerns about the longevity of the pandemic and sustainability of the economic recovery.”
Companies continued to boost their buying activity in October - the latest rise was “solid” and the quickest since June. Lead times for inputs continued to lengthen moderately, but delays remained much less severe than during the quarantine lockdowns in the spring.
“Pre-production inventories declined again in October, amid reports that stocks were being used to supplement production,” the report continued. “Moreover, the decline quickened to a modest pace. Holdings of manufactured items also fell at a quicker rate. According to respondents, post-production inventories were being used, where possible, to fulfil orders.”
The October data also highlighted a renewed dip in workforce numbers across the Kazakh manufacturing sector, though only by a marginal amount . According to anecdotal evidence, the voluntary leavers were non-replaceable. Firms continued to work through backlogs with the rate of backlog depletion mostly unchanged since September.
“On the price front, cost burdens facing Kazakh goods producers rose at the quickest rate since June and markedly overall. Panellists cited price hikes at suppliers, greater raw material costs and unfavourable exchange rates as the main drivers of inflation,” the report added. “Higher costs were partially passed through to clients in October, as average selling prices rose for the sixteenth month running and solidly overall.”
Register here to continue reading this article and 5 more for free or purchase 12 months full website access including the bne Magazine for just $250/year.
Register to read the bne monthly magazine for free:
Already registered
Password could contain only a-z0-9\+*?[^]$(){}=!<>|:-_ characters and have 8-20 symbols length.
Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.
Forgotten password?
Email field can't be empty.
No user with this email address.
Access recovery request has expired, or you are using the wrong recovery token. Please, try again.
Access recover request has expired. Please, try again.
To continue viewing our content you need to complete the registration process.
Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.
If you have any questions please contact us at sales@intellinews.com
Sorry, but you have used all your free articles fro this month for bne IntelliNews. Subscribe to continue reading for only $119 per year.
Your subscription includes:
For the meantime we are also offering a free subscription to bne's digital weekly newspaper to subscribers to the online package.
Click here for more subscription options, including to the print version of our flagship monthly magazine:
More subscription options
Take a trial to our premium daily news service aimed at professional investors that covers the 30 countries of emerging Europe:
Get IntelliNews PRO
For any other enquiries about our products or corporate discounts please contact us at sales@intellinews.com
If you no longer wish to receive our emails, unsubscribe here.
Magazine annual electronic subscription
Magazine annual print subscription
Website & Archive annual subscription
Combined package: web access & magazine print annual subscription