Middle East & North Africa Data Response Saudi Arabia GDP (Q2, Flash Estimate) The 1.1% q/q expansion in Saudi Arabia’s GDP in Q2 was driven by the unwinding of the voluntary oil output cuts and the easing of virus-related restrictions supported domestic activity. With the OPEC+... 9th August 2021 · 3 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Jul.) July’s whole economy PMIs painted a mixed picture with recoveries in Qatar and the UAE’s non-oil sectors picking up pace, while those in Egypt and Saudi Arabia softening. Strong vaccine rollouts and... 3rd August 2021 · 3 mins read
Middle East & North Africa Economics Saudi Arabia Consumer Prices (Jun.) Saudi inflation rose to 6.2% y/y in June but it will fall sharply in July to around 1.0 y/y as the effects of last year’s VAT hike fall out of the annual price comparison. Inflation is likely to hover... 15th July 2021 · 2 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Jun.) Egypt’s headline inflation rate edged up to 4.9% y/y in June and is likely to increase further over the coming months. Against this backdrop, we think the Central Bank of Egypt (CBE) will keep... 8th July 2021 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Jun.) June’s whole economy PMIs for the Gulf were a mixed bag, although one common thread was that weaker external demand offset a pick up in domestic demand. Strong vaccine rollouts mean that most virus... 5th July 2021 · 2 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (May) The rise in Saudi inflation to 5.7% y/y in May is likely to be followed by another increase in June, but the headline rate will fall sharply in July to around 1.0-1.5% y/y as the effects of last year... 15th June 2021 · 2 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (May) Egypt’s headline inflation rate rose to 4.8% y/y in May, the fastest pace recorded so far this year. But it remained below the lower bound of the central bank’s (CBE’s) target range, supporting our... 10th June 2021 · 3 mins read
Middle East & North Africa Data Response Whole Economy PMIs (May) May’s batch of whole economy PMIs were a mixed bag suggesting that economic recoveries in the Gulf are struggling to gather momentum for the time being. But, with vaccination programmes strengthening... 3rd June 2021 · 3 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Apr.) Saudi inflation rose to 5.3% y/y in April and, while we expect the headline rate to rise further over the rest of this quarter, it is set to fall sharply to 1.5-2.0% from July as the effects of last... 20th May 2021 · 2 mins read
Middle East & North Africa Data Response Saudi Arabia GDP (Q1, Flash Estimate) Saudi Arabia’s economy recorded a slight contraction in Q1 as the impact of the Kingdom’s additional voluntary output cut more than offset a further rebound in non-oil sectors. With oil output cuts... 10th May 2021 · 3 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Apr.) Egypt’s headline inflation rate fell to a seven-month low of 4.1% y/y in April, leaving it well below the lower bound of the central bank’s (CBE’s) target range. We think the headline rate will pick... 10th May 2021 · 3 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Mar.) Saudi inflation fell to 4.9% y/y in March and, while the headline rate is likely to rise in Q2, we expect it to fall sharply to 1.5-2.0% from July as the effects of last year’s VAT hike fade. 15th April 2021 · 2 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Mar.) Egypt’s headline inflation rate held steady at 4.5% y/y in March, leaving it below the lower bound of the central bank’s (CBE’s) target range. There is a growing chance that, with the economy still... 8th April 2021 · 2 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Feb.) Saudi inflation dropped to an eight-month low of 5.2% y/y in February and while, it is likely to rise again over the next few months, we expect it to fall sharply to 1.5-2.0% from July as the effects... 15th March 2021 · 2 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Feb.) The slight pick-up in Egyptian inflation to 4.5% y/y in February still leaves the headline rate below the lower bound of the central bank’s (CBE’s) target range but, if we’re right in expecting... 10th March 2021 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Feb.) February’s batch of whole economy PMIs suggest economic activity in non-oil sectors across the region eased last month on the back of tighter virus containment measures. Aside from the UAE... 3rd March 2021 · 3 mins read
