Research Briefing | Aug 5, 2021

MENA | July PMIs, Oman’s electricity subsidies, Iran inflation

Copy of Copy of Copy of Ipad Frame (59)

The PMIs for Saudi Arabia, the UAE and Qatar all remained in expansionary
territory in July at 55.8, 54.0 and 52.2 respectively. Both the UAE and Qatar’s
PMI rose on the back of stronger demand, but Saudi Arabia’s PMI fell for the
first time in four months.

What you will learn:

  • The Omani government is set to reconsider plans to remove electricity
    subsidies following complaints over the significant increase in May and June bills, with the authorities keen to avoid the clashes seen earlier this year due to worsening economic conditions and the current unemployment crisis.
  • Iran’s headline inflation slowed in July to 43.7% y/y from 47.7% in June but remains high despite a decline in food and housing and utility price inflation rates.
  • Saudi Arabia’s headline PMI declined for the first time in four months to 55.8 in July from 56.4 in June but remained well above the 50 no-change mark.
Back to Resource Hub

Related Services

Flags of US and Canada

Post

Trump’s tariffs on Canada would raise regional commodity prices

A blanket 25% tariff on Canadian imports to the US could have a significant impact on commodity prices, squeeze profit margins of Canadian exporters and raise prices for US end-users.

Find Out More

Post

Chinese policy is unlikely to shift due to announced tariffs

US President Donald Trump's announcement of an additional 10% tariff on imports from China was in line with our baseline expectation. But the immediacy of implementation, the blanket style of tariffs, and the inclusion of stronger language around retaliation in policy documents still add significant uncertainty to our forecasts.

Find Out More