Kazakhstan Industrial Output Rebounds in November 📈
Industrial production in Kazakhstan rebounded in November 2024, driven by faster growth in manufacturing, water supply, and waste management, as well as a recovery in electricity, gas, and mining sectors.
The article indicates a recovery in Kazakhstan's industrial production, which is positive for the portfolio's exposure to the European and emerging markets. The stronger manufacturing and utilities sectors suggest improved economic conditions, which could benefit the portfolio's positions in the S&P 500, MSCI World, and European market indices. However, the impact is moderate as the portfolio's exposure to the Kazakh market is relatively small (1% each for UAE and Kuwait markets).