Comment by Director of NBK Monetary Policy Department Rustem Orazalin about Business Activity in July 2024

In July 2024, business activity growth in Kazakhstan continued with a slight slowdown. Overall, the Business Activity Index (BAI) remains in the positive zone for the sixth month in a row.

At the end of July, there was an increase in business activity in production, services, and construction, with the BAI in these sectors in the growth zone. Specifically, the index in production remained unchanged at 51.7, having slightly decreased in services and construction to 51.0 and 50.5, respectively (51.6 and 51.7 in June). In these sectors, all components improved except for delivery times.

In the mining industry, the indicator increased slightly to 49.6 (from 49.5 in June), but remains in negative zone, which is associated with a decrease in the volume of inventories.

According to enterprises, demand for their products and services continues to grow. In July, the share of enterprises reporting increased demand rose significantly reaching the highest value for the entire period of the survey.

The Business Climate Index (BCI) increased slightly in July 2024. Both current and future business conditions are assessed positively by respondent enterprises. The business cycle clock indicator remains in the boom zone.

For more details please visit: https://nationalbank.kz/en/page/indeks-delovoy-aktivnosti-po-kazahstanu-ida

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