Middle East & North Africa Economics Update Saudi growth picks up, but rebound likely to fizzle out Our GDP Tracker suggests that Saudi Arabia’s economy grew by 5.0% y/y in April, supported by a rebound in oil production and robust growth in the non-oil sector. But activity is likely to soften in... 17th June 2015 · 1 min read
Middle East & North Africa Economic Outlook Gulf countries weathering the storm, but growth to weaken The Gulf economies have weathered the storm created by low oil prices relatively well this year, with foreign exchange reserves having been drawn down to sustain spending. Large savings mean that this... 15th June 2015 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (May) Inflation in Saudi Arabia edged up to 2.1% y/y in May, but price pressures are still subdued. Against the backdrop of slower growth and weak commodity prices, we expect this to remain the case for the... 11th June 2015 · 1 min read
Middle East & North Africa Economics Update Optimism over opening up of Saudi’s stock market seems overdone The move by Saudi Arabia to open up its stock market to foreign investors from next week is a step in the right direction. But, as we explain in this Watch, we think some of the optimism about its... 10th June 2015 · 1 min read
Middle East & North Africa Economics Update Gulf countries likely to stand firm at this week’s OPEC meeting This week’s OPEC meeting is likely to see the Gulf countries, led by Saudi Arabia, once again shrug off calls from some of the cartel’s smaller members to cut oil production in order to shore up oil... 4th June 2015 · 1 min read
Middle East & North Africa Chart Pack Saudi Arabia and Egypt follow divergent paths The latest activity data suggest that the MENA region’s two largest economies, Saudi Arabia and Egypt, have headed in opposite directions at the start of 2015. After recording strong growth last year... 27th May 2015 · 1 min read
Middle East & North Africa Economics Update Saudi economy strengthens as oil sector rebounds Our GDP Tracker suggests that Saudi Arabia’s economy strengthened further in March as the oil sector returned to growth and consumer spending remained buoyant. But we expect this rebound to fizzle out... 19th May 2015 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Apr.) Inflation in Saudi Arabia held steady at 2.0% y/y in April as further weakness in food price pressures was offset by a pick-up in rental inflation. Looking ahead, we expect headline inflation to... 18th May 2015 · 1 min read
Middle East & North Africa Economics Update Saudi Arabia can afford to ride out a period of low oil prices We think concerns that Saudi Arabia is drawing down its savings to maintain spending in the face of lower oil prices misses the point that these buffers were built up precisely for a time like this... 14th May 2015 · 1 min read
Middle East & North Africa Economics Update The implications of the Saudi government reshuffle The reshuffle at the top of Saudi Arabia’s government probably has more political than economic implications. In particular, it means that any hopes for a swift end to the Yemen conflict have probably... 29th April 2015 · 1 min read
Middle East & North Africa Economics Update Equities in the Gulf rebound as Yemen fears ease While the crisis in Yemen has dragged on, stock markets in the Gulf have rebounded in the past month as fears that it could trigger a broader regional conflict have eased. 28th April 2015 · 1 min read
Middle East & North Africa Chart Pack Region’s politics take another twist The conflict in Yemen and an outline nuclear agreement between Iran and the West has thrust the region’s politics back into the spotlight. Although it looks like problems in Yemen are likely to drag... 23rd April 2015 · 1 min read
Middle East & North Africa Economics Update “Accession bonus” leads to pick-up in Saudi consumer spending With inflation at an eight-year low and public sector workers receiving a bonus following King Salman’s recent accession to the throne, household spending in Saudi Arabia appears to have gathered... 21st April 2015 · 1 min read
Middle East & North Africa Economics Update Saudi economy picks up, but unlikely to last for long Our GDP Tracker suggests that Saudi Arabia’s economy strengthened in February as the drag from the oil sector eased further and activity in the non-oil sector picked up. But this is likely to prove... 16th April 2015 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Mar.) Inflation in Saudi Arabia eased further last month, to 2.0% y/y, driven in large part by a drop in housing rental price inflation. Against the backdrop of slower growth and weak commodity prices, we... 15th April 2015 · 1 min read
Middle East & North Africa Economics Update Assessing the impact of a potential nuclear deal with Iran There are many details that still need to be ironed out, but earlier this month Iran and the West moved another step closer to securing an agreement over Tehran’s nuclear programme. As we explain in... 9th April 2015 · 1 min read
