NBK provides you with timely economic research and analysis on local, regional and international markets, keeping you better informed and up-to-date on the latest trends and developments.
ECONOMIC REPORTS


Vaccine rollout and Biden stimulus plan offer hope amid growth concerns



Global equities end year on a strong note, aided by stimulus and vaccine optimism






Pace of economic recovery moderates on virus surge and new restrictions


Kuwait: Current account surplus narrows further in 2Q20 on oil price plunge


Kuwait: Fiscal deficit at KD1.9 billion in 1H FY20/21 mainly on weak oil revenues



Vaccine progress and stimulus hopes fuel economic optimism, stock market surge



Kuwait: The official budget for FY2020/21 projects a deficit of KD14.1 billion


Kuwait: Consumer spending outlook contingent on labor market recovery




Relatively good economic performance during difficult times bodes well for the outlook


Kuwait: Current account surplus narrowed to near three-year low in 1Q20


Kuwait: Fiscal deficit in Q1 FY20/21 was smaller than expected, but set to rise



US treasury yields rise in 3Q20 amid improved economic data and stimulus expectations



Resurgent virus sparks economy worries, before markets rally on vaccine news



US GDP growth rebounds sharply in 3Q20 following the easing of coronavirus containment measures


Kuwait: Inflation picks up in Q3 on rebounding consumer demand and supply-side disruptions


Pandemic and low oil prices leave the region with tough policy choices


Kuwait’s trade surplus narrowed on low oil exports in 1H20


Oil hit by resurgent coronavirus; pressure increases on OPEC+ to delay easing cuts


Kuwait: Real estate sales rebound in the third quarter following the lifting of restrictions



Kuwait: Project awards pick up in 3Q as lockdown measures ease


Economic activity recovers in Q3, but low oil prices and fresh global virus spread weigh on recovery




Virus ‘second wave’ casts doubt on global economic recovery, as US election nears


Global equities rally extends into 3Q20 on stimulus, vaccine and recovery hopes






Economic boost from restriction-lifting may be fading, pointing to slower recovery ahead



Oil prices under pressure over oil demand worries due to spiking Covid-19 infections





Recovery and vaccine hopes fuel equity rally; Fed switches inflation target


Global yields show signs of stability on improving economic data, recovery optimism



US GDP sees record drop in 2Q20, though surveys point to Q3 rebound


UAE: COVID-19 fallout weighs heavily on tourism activity



Kuwait’s budget deficit widened in FY19/20 on lower oil prices


Oil prices look for traction amid persistent coronavirus-weakened economic activity


Kuwait: Consumer sector showcases some resilience as mobility restrictions ease



Kuwait: Inflation eases in Q2, expected to remain soft on weak economic conditions


Kuwait: Second quarter real estate sales at historical lows on coronavirus woes


Kuwait: Credit growth at 3.8% y/y by the end of 2Q2020



Slump in Q2 GDP figures highlights pandemic fallout


Kuwait: GDP contracts in 1Q20 as activity weakens partly due to coronavirus measures



Kuwait: Project awards decline in 2Q amid government lockdown


Oil prices rangebound in July as virus persistence clouds outlook


Macroeconomic data continues to improve, but resurgent trade and coronavirus risks may weigh


Global equities rallied in 2Q20 on massive central bank stimulus



Growth remains solid; the pandemic clouds the outlook


Economy recovering but downside risks stemming from lackluster demand persist


Oil price rally in Q2 and lockdown easing see economic conditions improve



Economic recovery hopes tempered by renewed virus concerns


Kuwait: Current account surplus in 2019 reaches highest level since 2014





Signs of improvement in data as economy reopens, but virus risks continue to weigh



Kuwait: Coronavirus expected to impact commercial and investment sectors in 2Q20


Kuwait: Inflation edges up in Q1, should soften on weaker economic conditions


Activity shows tentative signs of revival as lockdown measures start to ease


1Q20 sees sharp contraction in GDP amid virus lockdown, while unemployment surges


Economic recovery post-lockdown weighed down by slump in global demand


Kuwait: Consumer sector to sputter as Covid-19 crisis weighs on spending, jobs


Growth outlook hit, fiscal deficit to widen as virus-related lockdowns cause huge disruption


Oil prices rally on signs of recovering oil demand and OPEC+ supply reductions


Virus uncertainty and bleak economic outlook weighs down on bond yields


Kuwait: Credit growth stable at 4.4% y/y by the end of 1Q2020


Twin challenge of Covid-19 and plunging oil prices to hit Kuwaiti growth this year



Major economies see activity plunge as lockdown measures take their toll


Fed cuts rates and oil prices plunge as virus spreads and OPEC+ pact crumbles



Kuwait: Notable improvement on the Ease of Doing Business—more is needed for FDI


Divergence of GCC and global yields in 4Q19 while regional issuance moderated


Oil markets roiled by coronavirus as global oil demand projections slashed


GDP growth steady in 4Q19, but coronavirus concerns weigh down on outlook



Kuwait: Consumer spending likely to maintain positive momentum in 2020


Kuwait: Budget deficit at KD2.3bn in 10M FY19/20 as oil prices fall




Coronavirus worries hit financial markets and Chinese growth prospects



Kuwait: Non-oil activity accelerates in Q3 but overall growth slows due to oil cuts


Draft FY20/21 budget leaves spending on hold; consumer spending growth accelerated in Q4


Kuwait: Project awards slow-down in 4Q19, may show modest recovery in 2020


Saudi Arabia: Promising outlook guided by Vision 2030



Unemployment steady at record lows, but manufacturing activity remains weak


Global equities rallied in 4Q19 on Fed support and easing trade tensions



Oil prices soften as markets refocus on fundamentals after Iran-US standoff


Economy sees signs of stabilization as stimulative measures take effect



Further rise in geopolitical tensions could set back markets after strong end to 2019



Fed policy expected to remain neutral amid signs of strength in economic data



Oil sector to underpin economic growth pick-up in 2020-22



The economy remains resilient despite global economic headwinds


Structural reforms needed to underpin the favorable macro outlook


Pessimism on growth outlook recedes despite US-China trade deal uncertainty


Kuwait: Real estate sales moderate in October from a solid third quarter



Lebanon: Is there a Way out of the Economic Doldrums?



Kuwait: Rising current spending leads to budget deficit in 7M FY19/20


GDP growth eased slightly in Q3, but no further Fed rate cuts foreseen in 2019


Saudi Arabia: Saudization and the private sector employment challenge



Global bond yields fell in 3Q amid growth concerns; GCC issuance remained solid


Kuwait: Credit growth slowed to 4.2% y/y by the end of September


Kuwait: Inflation rises in 3Q19, but housing rents remain soft



Oil rally stalls on reemergence of global growth concerns amid rising oil stocks



Fed cuts rates again, while UK faces crucial election to resolve Brexit


Stable outlook despite global and regional risks



Manufacturing activity contracts and retail sales disappoint despite very low unemployment


Global equity markets moderate amid softer data and ongoing trade tensions



Oil prices soften in Q3 on global worries; Kuwait moves up global competitiveness ranking



Central banks cut rates as manufacturing gloom deepens



Oil prices down as global economic growth concerns intensify


Saudi non-oil growth accelerates in the second quarter of the year


Kuwait: Population growth moderates in 1H19; expats employment softens further




Fed cuts rates but core inflation hits 13-month high amid good consumer sentiment





Trade war escalation and growth concerns lead to volatile markets



Kuwait: Project awards relatively weak in 2Q19 but rise sharply in 3Q19




Kuwait: Real estate sales rise modestly in 2Q19, with price trends mostly positive


Q2 GDP growth slows, rate cut expectations grow as markets turn bearish



Kuwait: Credit growth edges lower in 2Q19; CBK leaves policy on hold


GCC debt issuance at record high in 2Q19, benchmark yields continue to fall



Oil prices battered by concerns over weakening global economic growth


Escalation in US-China trade war puts further rate cuts back on the agenda


Kuwait’s current account surplus increases in 1Q19 on higher investment income



Markets continue to be bullish on hopes of rate cuts, but trade and geopolitics weigh



GDP growth picks up in 1Q19; domestic credit continued its gradual recovery



Oil caught between geopolitics and global growth concerns as OPEC+ extends accord


Uncertain global outlook may weigh on the region


Growing uncertainty amid mixed data, chances of rate cut rise, markets rally


Equities rebound as key central banks mull looser policy




Economy improving as government advances development agenda




Non-oil economy to remain supportive of growth


Non-oil activity improving amid record public spending


Steady economic performance; reforms should improve the outlook






Financial markets under pressure in May on fresh concerns over trade


Recent data suggests mild slowdown in US economy; chances of rate cut rise


Kuwait: Real estate sales moderate in 1Q19 on softer investment sector



Egyptian pound strengthens against USD, trading at its highest in two years


Kuwait’s current account surplus rises in 2018 on higher oil prices



Kuwait: Inflation rose in 1Q19, but expected to remain low in 2019


GCC debt issuance strong in 1Q19, while global benchmark yields slide


Consumer spending growth to pick up in 2Q19 after moderating in 1Q19



Stronger Q1 data boosts optimism on global growth outlook





1Q19 GDP growth beats expectations; unemployment at 49-year low



Project awards were low in 2018, but will likely improve in 2019



Oil prices rally to above $70; Kuwait’s non-oil growth reached 2% in 4Q18



Kuwait: Kuwaiti population growth steady; employment in solid recovery



Global bond yields drop on growth concerns and prospect of looser policy



Tightening supplies propel oil prices to best quarterly performance since 2009



Oil output drops amid OPEC cuts; budget could end FY18/19 in broad balance



GDP growth slowed in Q4, while Fed rate hike prospects have faded



Central banks hint at policy shift amid weaker growth signals


Business activity increasing, but credit growth remains subdued; fiscal deficit halves in 2018



Oil prices on the up as tighter market fundamentals stoke bullish sentiment


Inflation remained low in 4Q18, despite modest pick-up in December



Markets continued to rally in February; slim chance of Fed rate hike in 2019



Oil prices rebound in January; draft budget for FY19/20 signals fiscal expansion



Global markets recover as Fed signals policy shift



Kuwait : Real estate sales reach KD1 billion in Q4, the strongest in four years



Higher oil production boosted GDP growth in 3Q18, amid softer non-oil growth



Markets rally in January amid easing trade tensions and less hawkish Fed



Economic growth supported by expansive government investment spending


Global markets pummeled by growth uncertainty and policy tightening


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




Non-oil growth seen at 3% in 2019, and fiscal position remains manageable



Fed hikes rates for ninth time; equities see sharp correction


Economic growth improving amid record government spending



Infrastructure investments drive growth amid an improving fiscal picture



Diversification efforts to proceed; public finances should improve


Crude output to be cut amid oil price softness; credit growth edges higher



Kuwait: Credit growth improves in Q3, corporate borrowing is firming up



Global growth concerns weigh on markets; Fed to hike rates in December


3Q18 GDP growth moderates, wage growth reaches nine-year high


Economic reform early success is remarkable; key challenges remain




Oil price drop could trigger output cuts; CBK new regulations to boost lending


Oil prices down on receding supply shortage fears, weaker demand outlook


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


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


Kuwait: Third quarter real estate sales maintain positive momentum


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



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



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



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



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



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



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



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



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



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: 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



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



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



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



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



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



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



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



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



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
