Economic Report

Global markets suffer October sell-off; US growth remains strong in Q3

Kuwait: Third quarter real estate sales maintain positive momentum

Equity markets rally after US mid-terms; Brent crude falls to $70 weighed by oversupply concerns

Mixed data but overall softer, with growth slower than expected in 3Q18

Bahrain: GCC pledges $10bn in financial support as kingdom unveils fiscal reforms

Global stocks end dismal October on a high note; crude prices drop as US softens Iran sanctions position

Kuwait: Higher oil prices to leave budget close to balance this year

US markets outperform in Q3, EM concerns worsen while FTSE upgrades Kuwait

US growth remained buoyant in Q3; ECB to wind down QE program by end-year

Unemployment rate at 49-year low, fourth rate hike expected in December

Kuwait: Project awards were soft in 3Q18, but expected to pick-up in coming quarters

US rate outlook, European politics weigh on markets; Gulf economies improve competitiveness rankings

Oil sector boosted by rising prices and production; CBK maintains key lending rate

Equities fall as investors digest prospect of higher interest rates; Brent crude dips to $80

Optimism and employment growth continue to support consumer spending

Fed hikes rates amid robust economic data; Eurozone export sector weakens

Egypt Faces higher borrowing costs amid emerging market pressures

Strong US data triggers bond market sell-off; Brent crude hits near four-year high of $86

Fed hikes rates for eighth time in three years; Brent crude surges past $80 mark

Oil price and production forecasts revised up; credit growth rose in July

Business activity at 2018-high in August; fiscal deficit narrows on higher oil and non-oil revenues   

Stocks rally on relief over trade war measures; Brent crude climbs above $80 as Trump calls for OPEC action

Strong growth points to two further Fed rate hikes in 2018

Kuwait: Consumer spending slows in August, weighed by seasonal factors

Turkey and Argentina: far apart and yet so close

US to proceed with China tariffs; Turkey raises rates to 24%; oil prices firm up on Iran supply concerns

Trade war concerns persist; emerging market currencies see large sell-off

US threatens further China tariffs; pressures on emerging market currencies are slightly lower

Trade frictions continue to dominate the agenda; EM currencies see further turbulence

US-China trade dispute: China’s options and potential impact on the GCC region

Kuwait: Summer lull weighs on consumer spending in July

Inflation eased further to just 0.5% at the end of Q2

Powell reaffirms Fed’s gradual approach to rate hikes; crude prices surge on US inventory draw

Kuwait: Credit growth soft in Q2, but picked up in June

15-8-2018: Current account surplus highest in three years thanks to stronger oil prices

Plunge in Turkish lira triggers flows into US dollar; oil prices edge down on trade war concerns

US growth powers ahead, but trade war with China intensifies

Oil production starts to climb; budget deficit narrowed to 9% of GDP last year

Fed leaves rates on hold but seen hiking next month; crude prices ease as OPEC production rises

Kuwait: Second quarter real estate sales highest in three years

US and EU strike a deal to reduce trade tensions, while US growth accelerates to a vigorous 4.1% in Q2

GCC markets outperform global peers, while  trade tensions invite caution

Growth recovers led by oil sector rebound

Economic recovery to gain traction as oil and non-oil sector output expands

Regional outlook improving amid higher oil prices and government stimulus

Trade war looms closer; Global growth prospects are lower; oil price fluctuates on uncertain production

Kuwait: Consumer spending rebounds in June, resuming its healthy expansion

Tightening global financial conditions amid trade tensions accelerated capital outflows from emerging markets

Growth outlook solid as government pushes on with reforms

US may expand tariffs on Chinese goods; GCC economic activity still soft; oil down on bearish supply

Non-oil growth seen steady this year, as higher oil prices boost fiscal position

OPEC+ agrees to increase oil output to resupply tighter markets

US imposes tariffs on Chinese goods; GCC non-oil activity recovering; Brent settles lower at $77

Growth to accelerate in 2018 as non-oil activity recovers and oil output increases

Rise in US inflation provides support for rate hike prospects; Brent crude rallies close to $80

Growth to pick up, but finances remain vulnerable

EU fires latest shot in trade war with US; oil prices rise despite deal by OPEC+ to boost output

Oil output seen rising on OPEC policy shift; CBK leaves lending rate on hold

Economy remains supported by resilience in non-oil growth

Kuwait: Consumer spending softens in May but remains strong

Trade tensions and political crises in Europe present risks to global growth

Kuwait: First quarter real estate sales were strong, supported by high volumes

G7 discord ratchets up fears over global trade outlook; Fed rate hike almost certain this week

Oil price rise boosts fiscal position; credit growth remains modest in March

Kuwait: Credit growth was soft in 1Q18, up 1.9% y/y in March

Higher oil prices positive for Saudi economy but non-oil activity yet to fully rebound 

Strong US labor market and easing tensions in Italy lift markets, but trade war concerns intensify

USA: Mixed data and renewed trade tensions weigh on Fed outlook

Political instability weighs on the euro; oil prices dip on prospect of output increase by OPEC and Russia

GCC debt issuance weak in 1Q18; central banks hike rates

Coalition deal rattles Italian financial markets; Brent crude briefly breaks through the $80 mark

Global growth outlook positive despite softer data in US and Europe

Oil prices lifted by US withdrawal from Iran nuclear deal; Egypt could see interest rate cut this week

1Q18 GDP growth faltered but other data is mixed

Fed leaves rates on hold while Eurozone growth disappoints; oil prices stay close to $75

Projects eased in 1Q18 on delays; a softer 2018 is anticipated

Oil prices near 3½-year highs on raised geopolitical concerns and tighter supplies

Weekly Economic and Markets Review

GCC: Gulf outperforms in 1Q18 while developed markets dip amid fresh volatility

USA: Solid data keeps Fed on track for at least two more hikes in 2018

Kuwait Economic Brief

Weekly Economic and Markets Review

Weekly Economic and Markets Review

UAE: Dubai Expo 2020-related infrastructure spending and tourism sector supporting non-oil economy

Eurozone: Growth still solid, but data shows signs of softening

Weekly Economic and Markets Review

Global economy remains on firm footing despite risk of protectionism in the US

Consumer sector fuels robust US economy; Saudi equity market upgrade could trigger capital inflows

USA: Robust fundamentals saw Fed hike rates in March

UAE: Banking sector could become more supportive of growth this year

Weekly Economic and Markets Review

Kuwait Economic Brief

Saudi Arabia: Non-oil activity improving amid record public spending, but credit growth still weak    

Weekly Economic and Markets Review

Market volatility has risen as tighter monetary conditions loom

Weekly Economic and Markets Review

Kuwait: Value of contracts declined in 2017; sectors performance varied

Weekly Economic and Markets Review

Kuwait: Real estate sales were strong in January, boosted by investment sector

Kuwait: Credit finishes 2017 at 3.2%; real estate sales were strong in January

Kuwait: Current account surplus improves in 3Q17 as oil price recovers

Kuwait: Credit growth slowed to 3.2% in Dec.; money supply growth rose

Oil prices slip on expectations of surging US shale growth in 2018 

Weekly Economic and Markets Review

Global growth is upgraded to 3.9%; US inflation is on the rise

Kuwait Economic Brief

Weekly Economic and Markets Review

Stronger economy unlikely to lead to a rapid rise in property prices

Kuwait: Real estate activity rose in 2017, though sectoral growth was uneven

Weekly Economic and Markets Review

Kuwait: Deficit could narrow to 9% of GDP in 17/18; inflation slows to 1.1%

GCC issued record $50 billion in international sovereign debt last year

Eurozone: Robust data; momentum expected to carry into 2018

Weekly Economic and Markets Review

Kuwait: November inflation inches up to 1.5%, spurred by retail activity

Weekly Economic and Markets Review

Saudi Arabia unveils largest ever budget to stimulate non-oil economy in 2018

USA: Economy closed 2017 in good shape, as even inflation ended strong

Global economy kicks off 2018 in strong form, though risks remain

Kuwait: Credit growth slowed to 4.3% in November on corporate repayments

Kuwait: Real estate sales eased in Nov. but maintain improving trend

Weekly Economic and Markets Review

Bahrain: Non-oil growth supported by elevated project spending

Kuwait Economic Brief

UAE: Non-oil economy set for solid growth in 2018 helped by construction and tourism sectors

Market optimism extends into 2018 as oil prices trade at three-year highs

Kuwait: Consumer sector on the mend on stronger confidence and spending

Weekly Economic and Markets Review

Qatar: Non-oil growth to slip further as diplomatic row persists

GCC: Geopolitics weighed on GCC equities in 2017; Kuwait outperformed

MENA Economic Outlook

Kuwait: Credit was on the weaker side in October, with growth at 4.6% y/y

UAE: Non-oil growth to be fastest in the Gulf region in 2018, at 3.7%

Oman: Rising gas output to boost GDP, but fiscal position still a concern

Weekly Economic and Markets Review

Egypt: Economy continues to recover as reforms boost sentiment and exports

Weekly Economic and Markets Review

International: Tax cuts could boost US growth; Brexit deal marks progress

Kuwait: Inflation bounced up to 1.4% in October supported by the retail sector

Kuwait: Current account surplus improves in 2Q17

Weekly Economic and Markets Review

Kuwait Economic Brief

Kuwait: Real estate activity picks up in October amid stable prices

Kuwait: Growth improving on projects and receding fiscal adjustment

Weekly Economic and Markets Review

Oil prices hold on to recent gains but markets uneasy ahead of OPEC meeting

Kuwait: Consumer spending grew by 12.5% in 3Q17; real estate activity up

Improved corporate earnings still signaling some softness

Economic and Markets Review

Kuwait: Steady credit growth at 3.1% in September; 3Q17 closed weaker

Weekly Economic and Markets Review

USA: Oct. data solid across the board; rate hike outlook more aggressive

Qatar: Trade, travel and tourism take a near-term hit from diplomatic dispute

Bahrain: Project spending to continue to support non-oil growth in 2018

Weekly Economic and Markets Review

Kuwait: August credit growth was steady at 3.2%; solid household credit

Kuwait: Inflation slowed to a multi-year low of 0.5% in September

Kuwait Economic Brief

Oil prices top $60 as OPEC works off excess supply amid stronger demand

Weekly Economic and Markets Review

Kuwait: Real estate activity showing traction; prices stabilizing

Qatar: Dispute hits growth and trade, but initial shock to economy may be easing

Kuwait: September inflation fell to 0.5% as fuel price hike impact faded

Weekly Economic and Markets Review

Awards eased on delays and cancellation; healthy pipeline expected

Kuwait: Trade surplus steady in 2Q17; Imports growth holds firm

Weekly Economic and Markets Review

USA: Solid Sept. wage growth boosts Fed hike chances; inflation disappoints

Oman: Gas output to boost GDP next year, but fiscal position still a concern

GCC: Yields little changed in 3Q17; sovereign issues dominate

Saudi Arabia: Non-oil growth to edge up; fiscal reforms proceed apace 

Weekly Economic and Markets Review

Kuwait: Inflation softens to 1.2% in August on deflationary housing costs

GCC: Geopolitics weighs on Qatar; Kuwait upgraded to emerging by FTSE

Weekly Economic and Markets Review

Kuwait Economic Brief

Steady enough growth for central banks to adjust course, but very slowly

Kuwait: Credit growth at 3.5% in July, as month sees some weakness

Qatar: Growth downgraded as GCC dispute hits an impasse

Weekly Economic and Markets Review

Oil prices gain in September on signs the physical market is tightening

UAE: Oil cuts weigh on growth in 2017, but outlook remains favorable

USA: August inflation was up, though activity was hit by hurricanes

Egypt: Growth rose to 4.9% in 2Q17; CBE reserves above $36 billion

Kuwait: Seasonality dampened real estate activity in August, though prices held firm

Weekly Economic and Markets Review

Kuwait: Early signs of recovery of the consumer sector

Egypt: GDP growth picks up in 1H17; investment boosts foreign reserves

Weekly Economic and Markets Review

Kuwait Economic Brief

International: Markets now tentative on promised US tax reform agenda

Hurricanes and North Korea tensions weigh on markets; Saudi Arabia revises reform plans

Kuwait: Consumer spending growth at 9.1% y/y; equities higher in August

 Kuwait: Inflation steadies at 1.3% in July, a multi-year low

Kuwait: Residential sales lift real estate sector in July

Kuwait: Credit growth at 3.6% in June; first half registered strong pace

UAE: Surveys point to steady non-oil growth despite higher interest rates

Weekly Economics & Market Review

Saudi Arabia: Economy contracts in Q1, but fiscal position shows yearly improvement in Q2 

Corporate earnings up on strong investment gains

Kuwait: Current account surplus narrows in first quarter of 2017

Weekly Economics & Market Review

USA: GDP growth healthy in 2Q17; next Fed hike likely to be pushed into 2018

Alan Greenspan worries, the markets not so much

Kuwait: Inflation slows to 1.4%; July oil price up; FY16/17 deficit at KD 5.9 bn

Oil prices rally on stock drawdowns and signs of slowing US crude output growth

Weekly Economics & Market Review

Kuwait: Inflation revised down to 1.4% in June as rents see deflation

Kuwait: Seasonal factors dampen real estate activity across all three sectors

Weekly Economic and Markets Review

Kuwait: Project awards expected to pick up during the second half of 2017

Kuwait: Consumer sector stabilizing, following 2016 slowdown

NBK weekly economic and market review

Qatar: Growth to improve in 2017 but GCC dispute weighs on outlook

Kuwait: Credit growth rose to 4.7% in May on healthy monthly gain

Egypt: Progress on painful reforms bears fruit; growth begins to recover

Weekly Economics and Markets Review

Prices pressured as markets await stock drawdowns and tighter supplies

GCC: Yields mixed in 2Q17; bond issuance led by sovereigns

Kuwait: Credit growth rose to 4.7%; equities were steady

July 2017: Major central banks finally nudge their positions, impacting interest rates and FX rates

Weekly Economics and Markets Review

Kuwait: Inflation holds at 2.7% in May with momentum easing

Qatar: hydrocarbon activity recovers in 1Q17, political tensions persist

Real estate: May logs highest real estate sales so far in 2017 amid stabilizing prices

Weekly Economic and Markets Review

Trade surplus steady in 1Q17; up fourfold from a year ago

UAE: Growth set to moderate slightly in 2017 amid crude oil cuts

GCC: Oil weighs on regional equities; KSA up as EM inclusion draws closer

Weekly Economic and Markets Review

MENA Economic Outlook

Kuwait: Credit growth rose to 4%; CBK kept key rate unchanged; imports rose

Saudi Arabia: government spending and reforms to stimulate non-oil activity 

Credit growth accelerated to 4% in April despite a flat month

Weekly Economic and Markets Review

Fundamentals and markets steady, risks still small but rising in US

Non-oil activity maintains solid growth amid mild fiscal adjustment

Egypt: Growth has been improving slowly; CBE reserves above $31 billion

Kuwait Economic Brief

OPEC extends output cuts for 9 months but oil prices remain in the doldrums

Weekly Economic and Markets Review

Saudi Arabia: Non-oil activity subdued but improving; foreign assets continue to decline

Inflation holds steady at 2.6% in April

Weekly Economic and Markets Review

April logs lowest sales in eight months amid anemic commercial sales

Weekly Economic and Markets Review

Current account slips into deficit in 2016 amid weak oil prices

The 1Q17 rally in Kuwaiti equities boosted corporate earnings

Weekly Economic and Markets Review

Non-oil weakness to persist through 2018 on fiscal reform

Credit growth improved and inflation eased to 2.6% in March

Credit growth improved to 3.6% in March on a solid monthly gain

Weekly Economic and Markets Review

Steady world outlook, Macron election soothes EU concerns

Continued price weakness likely to spur extension of OPEC production cuts

Inflation eases to 2.6% in March on lower housing inflation

Kuwait economic brief

Weekly Economic and Markets Review

Non-oil sector continues to showcase resilience

Projects off to a good start in 2017 with KD 1.4 billion awarded in Q1

Residential sector boosts the market; prices remain relatively stable

Weekly Economic and Markets Review

Credit growth picked up pace to 3.3% on solid February gain

Weekly Economic and Markets Review

Corporate earnings were soft in 2016, but improved in second half

Business credit still healthy in February; equities hold on to gains

Corporate earnings were soft in 2016, but improved in second half

 Kuwait Economic Brief

GCC-Yields lower in 1Q17; bond issuance healthy, led by Kuwa

Weekly Economic and Markets Review

Oil prices pressured in March by rising crude stocks and US shale output

Inflation holds steady at 3.2% in February

Weekly Economic and Markets Review

Real estate prices steady amid slow market activity

Regional equities underperformed in 1Q17 as Kuwait rallied

Markets get a small dose of realism

Markets get a small dose of realism - 3-April-2017

Weekly Economic and Markets Review

Trade surplus narrows to 11- year low in 2016, imports are flat

Consumer sector normalizing in 2016, following years of robust growth

Weekly Economic and Markets Review

Business credit remains robust in Jan; trade surplus improves in 4Q16

Credit growth steady at 3.1% in Jan, as month sees small decline

Projects awards of KD 5.6 billion in 2016; healthy pipeline in 2017

Weekly Economic and Markets Review

Oil prices steady as OPEC achieves historic compliance with output cut pledge

Hydrocarbon sector activity picked up in 2H16, liquidity constraints easing

Inflation steadies at 3.3% at the start of 2017

Weekly Economic and Markets Review

The Fed set to move, growth and inflation data firmer all around

Equities corrected in Feb; POS spending bounced back in 4Q16

Kuwait Economic Brief

Weekly Economic and Markets Review

Growth slowed on subdued non-oil activity but liquidity improving

A slow start to the year for real estate, after a strong December

Weekly Economic and Markets Review

Growth remains weak; pound strengthens; tourism begins to improve

Weekly Economic and Markets Review

Current account surplus rises slightly in 3Q16 on higher oil prices

 Credit growth averages 7% in 2016

Oil markets await verification of OPEC output cuts, but US shale re-emerging

Kuwait Economic brief

Weekly Economic and Markets Review

Real growth seen slowing in 2017 as fiscal stance tightens

Spending cuts and tight liquidity weigh on equities in 2016

Inflation stable at 3.5% in December; averaged 3.2% in 2016

Weekly Economic and Markets Review

Economy to be supported by resilience in non-oil sector

Yields lower in 2016 on improving outlooks; bond issuance hit record

Prices correct further in 2016; commercial sales strong

Weekly Economic and Markets Review

Stock rally continues; consumer confidence improved in December

Real growth set to climb in 2017 and 2018 on stronger non-oil activity

Credit growth moderates to 4.4% in November; household strong

Weekly Economic and Markets Review

Economic activity slows as fiscal consolidation proceeds apace

Weekly Economic and Markets Review

Painful reforms and IMF loan should support gradual recovery

Non-oil activity cools but public investment to continue to drive growth

Weekly Economic and Markets Review

Weekly Economic and Markets Review