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

In October 2024, Business activity continues to slow down, but the indicator remains in the positive area for the ninth month in a row, reaching 50.9.

The dynamics of the index was influenced by a slowdown in the growth of business activity in the service sector to 50.6 in October (from 51.4 in September). Dynamics improved in all other sectors: in production, the index rose to 52.8 (from 52.3 in September), in construction - to 52.0 (50.4), in the mining industry, despite remaining in the negative area, the business activity index rose to 49.4 (in September – 48.9).

The Business Climate Index (BCI) decreased slightly in October 2024. The dynamics of the assessment of both current and future business conditions have worsened, but the indicator remains in the positive area. The business cycle "clock" indicator is in the boom zone.

According to enterprises, growth rate of demand for their products/services continues to slow down, especially in trade. Respondents gave positive ratings for access to infrastructure. However, negative assessments prevail for other factors, including business protection, tax burden, and access to financing and credit.

More details on the National Bank’s website. 

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