Middle East Economic Outlook Growth prospects for 2024 improving After a sharp slowdown this year, GDP growth across the Middle East and North Africa will improve in 2024 as OPEC+ starts to raise its output quotas and high oil prices allow the Gulf economies to... 25th September 2023 · 20 mins read
Middle East Rapid Response PMIs (Aug. 23) August’s batch of PMIs for the region showed that activity in non-oil private sectors in the Gulf eased, but that activity remained strong. In contrast, Egypt’s PMI remained below the 50-mark and the... 5th September 2023 · 2 mins read
Asset Allocation Update We think EMEA equities will continue to be a mixed bag Equities in Europe, the Middle East and Africa (EMEA) have returned little in US$ terms so far this year. While they may fare better next year, we doubt they’ll outperform the wider emerging equity... 29th August 2023 · 6 mins read
Middle East Chart Pack Middle East and North Africa Chart Pack (Aug. 2023) Oil output cuts are driving a sharp slowdown in economic growth across the Gulf. The hit to volumes will more than offset the rebound in oil prices but, for now at least, fiscal policy is being kept... 21st August 2023 · 1 min read
Middle East Chart Pack Middle East and North Africa Chart Pack (July 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 12th July 2023 · 1 min read
Middle East Rapid Response PMIs (Jun. 2023) June’s batch of PMIs for the region improved almost entirely across the board and the strength in the Gulf states marked a stark contrast to the weakness among other emerging market regions. Elsewhere... 5th July 2023 · 3 mins read
Middle East Chart Pack Tourism’s long road to recovery The hit to tourism in the region from the COVID-19 pandemic finally appears to be over. Receipts and arrivals are now back to, or even above, seasonal norms in almost all countries. This will be... 27th June 2023 · 10 mins read
Middle East Economic Outlook Oil output cuts driving Gulf slowdown Economic growth across the region will be much weaker this year than last and our forecasts are generally below the consensus. We think regional growth will come in at just 1.4%, one of the weakest... 21st June 2023 · 20 mins read
Middle East Chart Pack Gulf growth slowing The flash Q1 GDP figures for Saudi Arabia showed the economy grew at its weakest pace in two years at the start of 2023, reflecting the cut in oil production in line with the OPEC+ decision in October... 24th May 2023 · 12 mins read
Middle East Economics Update The Gulf: notes from the ground We were in the Gulf last week visiting clients and this Update takes stock of the key talking points that emerged, from a sense of optimism surrounding the Gulf economies to despair and fear regarding... 11th May 2023 · 7 mins read
Middle East Rapid Response PMIs (Apr. 2023) April’s PMIs for the region showed that activity in private non-hydrocarbon sectors in the Gulf states started Q2 on a strong footing. What’s more, there were tentative signs that price pressures may... 3rd May 2023 · 2 mins read
Middle East Chart Pack IMF deals in choppy waters Balance of payments strains have prompted Egypt, Morocco and Tunisia to turn to the IMF over the past six months or so, but agreements in Egypt and Tunisia are faltering. The IMF postponed its first... 26th April 2023 · 12 mins read
Middle East Economics Weekly OPEC+ cuts and the Gulf, Saudi labour, Morocco-IMF The surprise voluntary oil output cut by OPEC+ will directly shave 1-2%-pts off GDP growth in the region’s members this year, which has prompted us to revise down our 2023 GDP growth forecasts. That... 6th April 2023 · 8 mins read
Middle East Rapid Response PMIs (Apr. 2023) March’s batch of PMIs showed that activity in non-oil sectors in Qatar and Saudi Arabia continued their good start to the year, whereas in Egypt the near-term pain from higher inflation and a weaker... 4th April 2023 · 3 mins read
Middle East Economic Outlook MENA set for a much weaker 2023 Growth across the Middle East and North Africa is set to slow sharply, and by more than most expect, in 2023. IMF deals will help to contain balance of payments strains in the non-Gulf economies but... 30th March 2023 · 25 mins read
Middle East Chart Pack Is the door closing for fiscal loosening in the Gulf? One of the main channels through which the Gulf countries are exposed to worries about the health of the global banking system in through energy markets, with the price of Brent crude falling by 13%... 24th March 2023 · 11 mins read
