Middle East & North Africa Data Response Saudi Consumer Prices (Jan.) Saudi inflation rose for a twelfth consecutive month in January and, while we expect a fresh slowdown in the non-oil sector to keep a lid on underlying price pressures, further hikes to local fuel... 18th February 2020 · 2 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Jan.) The modest rise in Egyptian inflation in January leaves it below the mid-point of the central bank’s target range and, after pausing for breath at the last MPC meeting, we think that policymakers will... 10th February 2020 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Jan.) January’s batch of whole economy PMIs suggested that activity in non-oil sectors in the Gulf slowed at the start of the year. Meanwhile, underlying price pressures seem to be building in Egypt, but we... 4th February 2020 · 3 mins read
Middle East & North Africa Data Response Saudi Consumer Prices (Dec.) Saudi Arabia emerged from deflation in December, recording a positive inflation reading for the first time in a year. We expect underlying price pressures to stay weak over the course of this year... 21st January 2020 · 2 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Dec.) The jump in Egyptian inflation last month to 7.1% y/y was largely due to the unwinding of favourable base effects but it means that next week’s interest rate decision will be a much closer call than... 9th January 2020 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Dec.) Whole economy PMIs for December suggested that activity in Saudi Arabia’s non-oil sector slowed at the end of last year, a sign that fresh fiscal austerity is already starting to take its toll... 6th January 2020 · 2 mins read
Middle East & North Africa Data Response Saudi Consumer Prices (Nov.) Deflation in Saudi Arabia continued to ease in November and we think that the headline rate will return to positive territory in the New Year. Reports that the government is reviewing energy subsidies... 17th December 2019 · 2 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Nov.) The rise in Egyptian inflation last month to 3.6% y/y still leaves the headline rate well below the central bank’s target paving the way for further interest rate cuts over the next twelve months or... 10th December 2019 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Nov.) November’s whole economy PMIs suggested that activity in Saudi Arabia’s non-oil sector has continued to strengthen, but with fiscal policy set to be tightened, this strength is unlikely to last... 3rd December 2019 · 2 mins read
Middle East & North Africa Data Response Saudi Consumer Prices (Oct.) Consumer prices in Saudi Arabia declined at their slowest pace so far this year in October and the headline rate is likely to return to positive territory soon. The prospect of fresh fiscal tightening... 19th November 2019 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Oct.) October’s whole economy PMIs suggest that the upturn in fortunes for Saudi Arabia’s non-oil sector continued at the start of Q4. In contrast, the recent slump in the UAE appears to be more than just a... 5th November 2019 · 3 mins read
Middle East & North Africa Data Response Saudi Consumer Prices (Sep.) Saudi consumer prices fell at their slowest pace so far this year in September and we expect the headline rate to return to positive territory at the start of 2020. 21st October 2019 · 2 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Sep.) The further drop in Egyptian inflation in September to a seven-year low of just 4.8% y/y means that the central bank will press ahead with its easing cycle over the coming months. We now expect a... 10th October 2019 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Sep.) September’s batch of whole economy PMIs provided further evidence of a divergence between non-oil sectors in Saudi Arabia and the UAE. But we don’t think this will continue for much longer as the UAE... 3rd October 2019 · 2 mins read
Middle East & North Africa Data Response Saudi GDP (Q2) GDP growth in Saudi Arabia slowed further to 0.5% y/y in Q2 and, in quarter-on-quarter terms, the economy officially entered recession. The slowdown reflected a greater drag from oil output cuts... 30th September 2019 · 2 mins read
Middle East & North Africa Data Response Saudi Consumer Prices (Aug.) Saudi Arabian consumer price figures showed that deflation eased to -1.1% y/y in August and we expect it to return to positive territory in annual terms at the start of next year. 24th September 2019 · 2 mins read
