Kazakhstan’s services activity rose markedly in May and at one of the strongest rates in the series history which stretches back to March 2019. The Freedom Holding Corp. PMI® signaled a fifth successive monthly rise in business activity.
The uptick was underscored by a sharper rate of expansion in new business. However, service
providers remained reluctant to renew their hiring activity, with job shedding recorded for a third straight month. This reluctance could in part be explained by a more cautious outlook for activity in May. The level of optimism weakened notably from April.
The headline figure is the Business...