Middle East & North Africa Data Response Whole Economy PMIs (Aug.) August’s PMIs for the Gulf economies suggest that fiscal stimulus has continued to support a recovery in Saudi Arabia, but weaker external demand is weighing on growth in the UAE. Meanwhile, Egypt’s... 4th September 2018 · 1 min read
Middle East & North Africa Economics Update Saudi economy accelerated at the end of Q2 Our GDP Tracker suggests that rising oil output supported a pick-up in growth in Saudi Arabia at the end of Q2. We expect that the economy will perform better than most anticipate over the next twelve... 29th August 2018 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Jul.) Saudi inflation edged up in July on the back of stronger food inflation, although underlying price pressures eased. We expect that headline inflation will rise a little further over the rest of this... 28th August 2018 · 1 min read
Energy Update Does the Aramco float matter for oil prices? Whether the Saudi Aramco float actually happens or not should make little difference to the oil market. After all, it is now clear that Saudi Arabia is no longer intent on artificially boosting prices... 23rd August 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (July) The latest data show that Saudi Arabia still has plenty of room to increase production if it needed to offset falls in Iran and Venezuela. As such, the group’s production should continue to rise, at... 13th August 2018 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Jul.) Last month’s PMI data for the Gulf provide further evidence that higher oil prices and recent fiscal measures are supporting robust growth in the non-oil sector. Elsewhere, Egypt’s survey suggests... 13th August 2018 · 1 min read
Middle East & North Africa Economics Update Saudi growth plateaued in Q2, but pick-up now underway Our GDP Tracker suggests that economic growth in Saudi Arabia plateaued in the first two months of Q2. But rising oil output is now providing a boost to the recovery and we expect that GDP growth will... 31st July 2018 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Jun.) Saudi inflation fell to 2.1% y/y in June as the effects of last year’s “sin” taxes faded and housing inflation fell deeper into negative territory. But there are signs that broader price pressures are... 25th July 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (June) We think that OPEC’s production is likely to rise significantly over the next couple of months. That said, it could fall back later in the year as output from Iran is curtailed and Venezuelan... 11th July 2018 · 1 min read
Middle East & North Africa Economics Update Saudi economy lost momentum at the start of Q2 Our GDP Tracker suggests that Saudi Arabia’s economy slowed a touch in April, but we think that this will prove temporary. Growth is likely to pick-up sharply over the coming months as the Kingdom... 11th July 2018 · 1 min read
Middle East & North Africa Economics Update Saudi emerges from recession, recovery to gather pace Saudi Arabia’s economy pulled out of recession in Q1 and we expect the recovery to gain momentum over the coming quarters, supported by fiscal stimulus and a jump in oil output. 2nd July 2018 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (May) Saudi inflation edged down for a fourth consecutive month to 2.3% y/y in May on the back of falling housing and utilities prices. Recent signs that growth in the non-oil economy is starting to... 27th June 2018 · 1 min read
Middle East & North Africa Economics Weekly Egypt subsidy cuts, Saudi upgrade, OPEC meeting Hikes to fuel prices announced by the Egyptian government over the past week mean that the central bank will refrain lowering interest rates at its upcoming meeting. Meanwhile, growing tensions within... 21st June 2018 · 1 min read
Middle East & North Africa Economics Update What would a rise in OPEC output mean for Saudi? The OPEC meeting scheduled to start on Friday will probably result in a compromise to increase oil output and this could provide a boost to Saudi GDP growth of around 1%-pt. Frictions within the group... 20th June 2018 · 1 min read
Middle East & North Africa Economics Update Saudi: will an MSCI upgrade drive the Tadawul higher? MSCI’s upcoming decision on whether to include Saudi Arabia in its benchmark emerging market equity indices has been billed as a game changer for the Kingdom’s stock market, but past experience... 19th June 2018 · 1 min read
Middle East & North Africa Economics Update Saudi economy returned to growth in Q1 Our GDP Tracker suggests that the Saudi economy emerged from recession in Q1. More timely data indicate that a raft of public sector bonuses is finally providing some support to the non-oil sector. 5th June 2018 · 1 min read
