Клара Сейдахметова
The recovery in growth rates is noticed in the services sector, while the goods sector continues its slowdown. There is still observing cooling in the construction and industrial sectors. A good recovery has taken place in the trade sector. And stable growth is observed in agriculture and communications.
The industrial sector is stagnating: the mining industry remains in the negative zone with a slight improvement (from -1% in 10 months to -0.9% now), and the growth of the manufacturing industry is declined from 4.3% to 4.2%. The mining sector remains problematic: crude oil (-2.2%), natural gas (-1.4%), iron ores (-20.2%) and other minerals (-8.9%). There is a slight decrease in the manufacturing sector that is due to a slowdown in the growth of tobacco production (from 12.7% to 9.8%), light (from 7.8% to 6.9%) and metallurgical (from 4.4% to 3.9% of industries.
The growth rate in the construction industry is cooling due to a decrease in the growth of construction of non-residential buildings.
At the same time, a significant growth boost occurred in the trade sector, where retail trade increased from 1.4% to 2.0% and wholesale from 5.3% to 6.0%. However, the growth of the food trade is cooling, which, in our opinion, is due to the growing inflationary pressure and the consumer purchasing power (food inflation in November +24.1%).
the transport and warehousing industry remained almost at the same level due to a drop in cargo transportation by 3.1% and a decrease in the growth rate of cargo turnover to 1.8%.
And due to a good harvest this year growth in the agricultural sector reached 8.5%. Whereas, the growth was +7.6% in the telecommunications and data trans market: Internet services continue to grow in Almaty and Astana cities.
Read more in the paper
Monthly inflation overview: causes, elements, forecasts