Middle East & North Africa Data Response Egypt Consumer Prices (Feb.) Egyptian inflation edged up to 10.6% y/y in February and is likely to stay close to 10% for the next few months. Further interest rate cuts are unlikely until the impact of last year’s energy price... 10th March 2015 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Feb.) The latest whole economy PMIs from the MENA region provide further evidence that the fall in oil prices hasn’t caused activity in the Gulf economies to collapse, as some had feared. Indeed, activity... 3rd March 2015 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Jan.) Inflation in Saudi Arabia continued to ease at the start of this year and, against the backdrop of slower economic growth and weak commodity prices, we expect it to remain low over the next twelve... 12th February 2015 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Jan.) Egyptian inflation fell back in January and looks set to ease further over the coming months. Further interest rate cuts are likely this year, but we suspect that the CBE will wait until the effects... 10th February 2015 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Jan.) January’s whole economy PMI data suggest that, in spite of the drop in oil prices at the end of last year, activity in the Gulf economies has continued to hold up well. Meanwhile, the dip in Egypt’s... 3rd February 2015 · 1 min read
Middle East & North Africa Data Response Saudi Arabia GDP (Q4) The slowdown in Saudi GDP growth in Q4, to just 2.0% y/y, provides the first evidence that the plunge in oil prices has caused growth to soften. But so far, there are no signs of a collapse in output. 20th January 2015 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Dec.) Saudi Arabia’s inflation rate fell to an eight-year low of 2.4% y/y in December. But we suspect that the big fall in inflation is now behind us and the headline rate may even edge up over the coming... 15th January 2015 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Dec.) The rise in Egyptian inflation last month, which took it back into double-digits, rules out any possibility of an interest rate cut by the Central Bank of Egypt at next week’s meeting. 8th January 2015 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Dec.) The rise in December’s whole economy PMIs suggests that, in spite of the plunge in oil prices at the end of last year, economic activity in the Gulf has held up reasonably well. Meanwhile, Egypt’s... 6th January 2015 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Nov.) The fall in Saudi Arabia’s inflation rate in November to a two-and-a-half year low probably marks the trough and we expect it to rise gradually to 3.0-3.5% over the coming year. 11th December 2014 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Nov.) Egyptian inflation fell sharply last month on the back of easing food price pressures. If inflation remains in single digits over the coming months, it could prompt the Central Bank of Egypt to cut... 10th December 2014 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Nov.) Last month’s drop in the whole economy PMIs for the Gulf economies appears to have been driven by weaker domestic demand. One explanation for this is that the continued slide in oil prices has weighed... 4th December 2014 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Oct.) The fall in Saudi Arabia’s inflation rate in October suggests that, for now at least, price pressures in the economy are limited. 13th November 2014 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Oct.) The increase in Egyptian inflation last month should not ring too many alarm bells. In fact, it can be almost entirely explained by a sharp rise in education inflation ahead of the new academic year. 10th November 2014 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Oct.) September’s Brazilian industrial production data suggest that the sector remained a drag on the overall economy in the third quarter and, with both domestic and external demand set to remain weak, it... 4th November 2014 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Sep. 12) September’s data show that inflationary pressures eased further in Egypt, with core inflation falling to a six-year low. But an interest rate cut is unlikely next week. 10th October 2012 · 1 min read
