Economic growth looks stable in August as domestic demand remains strong

KAZAKHSTAN - In Brief 14 Sep 2026 by Evgeny Gavrilenkov

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The Bureau of National Statistics has begun releasing monthly economic data for August, showing that growth is gradually picking up. Retail trade rose by 4.5% y-o-y in 8M26, with August alone posting a 6.3% increase. In 7M26 and 1H26, growth stood at 4.1% and 3.8% respectively, marking a steady acceleration from January’s 2.1% y-o-y rise. This upward trend has become typical and may be driven by two factors: increased budget spending, especially stronger monthly outlays in the second half of the year, and statistical quirks. The latter possibly stems from the use of chain indices, where each new year’s sectoral weights are based on the preceding year rather than fixed base-year prices. This has led to similar intra-year accelerations not only in retail but also in some other monthly indicators.Meanwhile, the Bureau reported that the communications sector grew by 4.4% y-o-y in 8M26, while transportation and warehousing rose by 7.3%. More August data will be released soon, but the current numbers suggest the economy is on track for 5% growth this year.