Freedom Holding Corp. becomes sponsor of the Kazakhstan Purchasing Managers’ Index™ (PMI®) by S&P Global
The first PMI report in cooperation with Freedom Holding Corp. was released on October 1, 2024. By supporting the release of Kazakhstan’s PMI® by S&P Global, Freedom Holding Corp. reaffirms its commitment to promoting alternative economic indicators in the local market, enhancing transparency and providing access to critical information about domestic economic activity.
PMI data is sourced directly from purchasing managers, who are the first to notice early-stage changes in the business environment, such as shifts in prices, demand and supply chains. The index is also known for its broad coverage of the national economy, surveying about 250 companies from the manufacturing sector and 250 from the service sector each month (500 entities in total). As a result, experts can detect market reversals early, better assessing potential risks even before official statistics are published.
«In Kazakhstan, the PMI will play the same critical role as it does in other economies worldwide. It will help integrate the country more deeply into the global expert community and make it more attractive to both domestic and foreign investors. Increasing foreign direct investment is essential, as we believe Kazakhstan holds significant untapped potential,» said Timur Turlov, CEO of Freedom Holding Corp.
«Our Kazakhstan Manufacturing and Services PMIs have been providing accurate, timely and high-frequency economic data on Central Asia’s largest economy for more than five years, enabling economists, policymakers and investors to track the economy’s performance in near real-time and assess the local economy in a global context using directly comparable data. We are delighted to welcome Freedom Holding Corp. as the new sponsor of our Kazakhstan PMIs and supporter of these critical indicators,» added Luke Thompson, Managing Director at S&P Global Market Intelligence.
«In Kazakhstan, where businesses are especially sensitive to even small fluctuations in the real economy, the PMI is one of the few indicators that is both fast and relatively easy to interpret. It helps market participants better understand overall economic trends and their position in the market. Essentially, the index serves as a compass for businesses. Whether the economy is slowing down or gaining momentum, this can significantly influence operational activities or even investment strategies,» Turlov emphasized.
The release of the Freedom Holding Corp. Kazakhstan Manufacturing PMI® and the Freedom Holding Corp. Kazakhstan Services PMI® reports is expected on the first and third business days of each month, respectively.
The PMI® by S&P Global is currently calculated for more than 40 countries and major regions, including the eurozone. A wide range of experts and businesses closely follow this economic indicator. The PMI covers 85% of global GDP and is featured on top-tier professional platforms, such as Bloomberg and Thomson Reuters. Various central banks, financial markets, and company executives rely on PMI reports, which provide accurate and unique monthly data on economic activities.
