Middle East & North Africa Economic Outlook Non-oil economies to see growth converge with the Gulf Following a tumultuous three years since the Arab Spring uprisings, we expect a recovery to finally get underway in the MENA region’s non-oil producers over the next year or so. Growth should be... 23rd January 2014 · 1 min read
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 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 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 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 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 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 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
Middle East & North Africa Economic Outlook Non-oil economies set for recovery The MENA region’s non-oil economies remain fragile, but a recovery of sorts is likely over the next year. In Egypt, growth will be supported by the government’s Gulf-funded stimulus package, while... 17th October 2013 · 1 min read
Middle East & North Africa Economics Update Egypt’s tourism sector bears the brunt of the unrest Tourist arrivals to Egypt have fallen back following the country’s “second revolution” and we estimate that tourist revenues in July and August were $600mn lower than in the same months of last year... 10th October 2013 · 1 min read
Middle East & North Africa Economics Update Gulf economies motoring ahead September’s PMI data point to a marked pick-up in activity in the Gulf’s non-oil sectors, supported by an improving external environment. By contrast, the Egyptian economy is showing little sign of... 3rd October 2013 · 1 min read
Middle East & North Africa Economics Update Should we be concerned about credit growth in the Gulf? Rapid credit growth in the Gulf has fuelled fears that the region is experiencing a credit binge similar to that which culminated in Dubai’s crisis in 2009. But, for now at least, we think that there... 27th September 2013 · 1 min read
Middle East & North Africa Economics Update Equity markets rebound on back of Syria deal & Fed decision Equity markets have recovered some of their earlier lost ground as concerns overWestern military intervention in Syria, as well as fears of a tapering of QE3 by theUS Federal Reserve, have eased. 25th September 2013 · 1 min read
Middle East & North Africa Chart Pack Gulf economies gathering pace Growth in the Gulf States appears to have accelerated in recent months. Oil production has surged in Saudi Arabia and the UAE, at least in part as a response to supply disruptions in Libya. And in the... 18th September 2013 · 1 min read
