BAKU, Azerbaijan, November 4. The process of the recovery of business activity in Kazakhstan's economy continued in October 2022, Director of National Bank's Monetary Policy Department Rustem Orazalin said, Trend reports citing National Bank of Kazakhstan.
However, the index remains in the negative area for the sixth month in a row. The business activity index rose to 49.1 (48.2 in September) due to an increased volume of new orders and a level of employment in certain sectors.
The recovery of business activity was reported in all sectors, except for production, where the indicator remained almost at the level of the previous month, making 48.5. The business activity index grew to 50.0 (from 48.0 in September) in the mining industry. There was a noticeable improvement in the index to 49.2 and 47.5 respectively (from 48.3 and 46.3 in September) in the service and construction sectors, despite the fact that the indicator remains below 50 (from 48 in September).
The valuation of the current business conditions turned out to be positive in October 2022 for the first time in the last five months. Estimates of future business conditions for the next six months have also improved.
As a result, the business climate index, which is an average assessment of current and future business conditions increased, and the business cycle "clock" indicator almost shifted from an upswing area to a boom area.
According to enterprises, demand for finished products has improved. There was a slight improvement in the assessment of business protection issues, despite a slight predominance of negative responses. Estimates of other factors of business conditions (tax burden and access to finance/credit) remained negative.