The Tengri Partners Kazakhstan Services PMI increased to 48 in June 2020 from 41.1 in the previous month, pointing to the thirteenth straight month of contraction in the sector though much softer, and the lowest since September 2019 as the loosening of restrictions implemented to tackle the pandemic. Both output and new orders contracted at a slower pace. Meanwhile, the rate of job shedding accelerated to the fastest in the 16-month series history and solid overall. On the price front, input prices increased at a softer pace, while selling prices reported unchanged, following a slight increase in the prior month. Finally, sentiment climbed to a four month high, amid reports of increased confidence in a post pandemic recovery.
Services Pmi in Kazakhstan is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Kazakhstan to stand at 48.00 in 12 months time. In the long-term, the Kazakhstan Services Pmi is projected to trend around 49.00 points in 2021 and 50.00 points in 2022, according to our econometric models.