Comment by Deputy Director of NBK Monetary Policy Department Denis Chernyavskiy on the results of a survey of enterprises in the real sector of economy (the sectoral market survey) for the first quarter, 2024

The results of a survey of enterprises in the real sector demonstrate an increase in demand for finished products in the manufacturing industry, construction, trade, as well as transport and warehousing in the first quarter of 2024. In the second quarter of this year, the demand situation is expected to improve in all industries except construction (a slight slowdown).

Moreover, from January to March this year, the economy experienced a slowdown in the growth of prices for raw materials and supplies, and an increase in production volumes in all industries.

At the same time, in the second quarter of 2024, enterprises expect a decrease in the growth rates of prices for raw materials and materials across all industries, as well as a slowdown in the growth rates of prices for finished products. The exception will be the agricultural sector, where prices are expected to remain stable.

Based on the survey findings, it is probable that production volumes will rise in manufacturing, trade, and agriculture.

Overall, the survey has covered more than 2.6 thousand enterprises in mining and manufacturing industries, construction, trade, agriculture, transport and warehousing.

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