Middle East & North Africa Economics Update PMIs suggest region ended 2013 on a strong note December's 'whole economy' PMIs for the Middle East and North Africa point towards faster growth in Q4 of last year than in Q3. Encouragingly, Egypt's PMI suggests that the economy is continuing to... 6th January 2014 · 1 min read
Middle East & North Africa Economics Update Egyptian stocks soar to post-Arab Spring high The Egyptian stock market has hit a post-"Arab Spring" high. This comes on the back of signs that the economy may finally be finding its feet as well as recent progress towards fresh elections. 23rd December 2013 · 1 min read
Middle East & North Africa Economics Update Saudi Arabian economy ending the year on a weaker note Having rebounded over the past couple of quarters, the Saudi Arabian economy appears to be ending the year on a slightly weaker note. Oil production has fallen back from the highs it reached in the... 17th December 2013 · 1 min read
Middle East & North Africa Chart Pack Egyptian inflation spikes while economy struggles The surge in Egyptian inflation to 12.9% y/y last month from 10.5% y/y in October took many by surprise. We think that this rise in inflation can largely be pinned on unflattering base effects and the... 12th December 2013 · 1 min read
Middle East & North Africa Economics Update Taking stock of Saudi Arabia’s migrant crackdown Saudi Arabia’s wide-scale crackdown on illegal migrant workers seems unlikely to have the desired effect of raising the employment of Saudi nationals in the private sector. In the short term, it runs... 9th December 2013 · 1 min read
Middle East & North Africa Economics Update Rebound in oil sector supports Saudi Q3 GDP growth Saudi Arabian Q3 GDP data showed that growth picked up as a rebound in the oil sector more than offset a slowdown in the rest of the economy. Looking ahead, growth may accelerate over the coming... 4th December 2013 · 1 min read
Middle East & North Africa Economics Update Egyptian economy may be finding its feet November's PMI data provide further evidence that the Egyptian economy may be finding its feet after a tumultuous summer. Meanwhile, the Saudi PMI pointed to a pick-up in growth in the non-oil sector... 4th December 2013 · 1 min read
Middle East & North Africa Economics Update Dubai equities hit five-year high as World Expo vote looms Dubai’s equity market hit a five-year high this month amid growing optimism surrounding the Emirate’s economic rebound. Confidence may be given an extra boost if, as is widely expected, Dubai wins the... 26th November 2013 · 1 min read
Middle East & North Africa Economics Update Risks from rapid Saudi credit growth look manageable The rapid expansion of credit in Saudi Arabia is beginning to look like a cause for concern. If sustained, it could be followed by a rise in non-performing loans. Nonetheless, the country seems well... 25th November 2013 · 1 min read
Middle East & North Africa Chart Pack Saudi oil boom lifts growth in Q3 The Saudi economy appears to have rebounded in the third quarter of the year. Our GDP tracker points towards growth of around 5% y/y, up from 2.7% y/y in Q2. Most of this improvement has come from the... 20th November 2013 · 1 min read
Middle East & North Africa Economics Update Saudi growth accelerates in the third quarter Our Saudi GDP Tracker suggests that the economic rebound continued in Q3, with output rising by around 5% y/y. The oil sector is growing once again while growth in the non-oil sector remains fairly... 12th November 2013 · 1 min read
Middle East & North Africa Economics Update Gulf’s non-oil growth fuelled by hydrocarbons Rapid growth in non-oil sectors has raised some hopes that the Gulf countries may finally be diversifying away from a reliance on hydrocarbons. But as we explain in this Watch, the recent expansion of... 8th November 2013 · 1 min read
Middle East & North Africa Economics Update Tentative signs that the worst may be over for Egypt October’s PMI data provide the first signs that the Egyptian economy may be emerging from the worst of the fallout from the “second revolution”. Meanwhile, the Gulf economies are growing at a healthy... 5th November 2013 · 1 min read
Middle East & North Africa Economics Update Bond markets buoyed by delay to Fed “taper” Bond markets across the MENA region have rallied over the past month as it looks increasingly likely that the US Fed will delay tapering its asset purchases under QE3 until early next year. Elsewhere... 29th October 2013 · 1 min read
Middle East & North Africa Economics Update Saudi economy gathers pace as oil sector returns to growth Having slowed at the start of this year, our Saudi GDP Tracker suggests that the economy has rebounded in recent months. The oil sector is growing once again. Meanwhile, the non-oil sector continues... 25th October 2013 · 1 min read
Middle East & North Africa Economics Update Inflation set to stay subdued across most of the region Easing food inflation and a modest dip in core price pressures have caused headline inflation to fall across much of the MENA region over the past few months. We expect inflation to remain benign in... 24th October 2013 · 1 min read
