Research Briefing
| Apr 12, 2021
MENA | Regional PMIs; IMF GDP revisions; Saudi pilgrims
PMIs for March remained in positive territory across the GCC but showed nonoil growth at a varying pace in the countries. Qatar and the UAE saw significant improvements due to stabilising hiring activity, but a slowdown in new orders contributed to a decline in Saudi Arabia’s PMI.
What you will learn about:
- Our forecasts show a weaker recovery in 2021 for most regional economies than the upgraded IMF forecasts, owing to revised OPEC+ quotas and a continuing risk from global travel restrictions.
- In an attempt to boost tourism, Saudi Arabia has announced that Hajj and Umrah permits during Ramadan (starting next week) will be granted to those vaccinated and recovered Covid-19 pilgrims.
- The March PMI surveys for Saudi Arabia, Qatar, and the UAE show that non-oil growth continued in March but at a varying pace. At 53.3, Saudi Arabia’s non-oil private sector grew for the seventh consecutive month but slowed from 53.9 seen in February.
Tags:
Related Services
Post
Europe: Among major southern cities, Madrid looks strongest
We are cautiously optimistic about the medium-term outlook for Europe's cities as a whole, but less sanguine about southern European cities than most others. They have tended to underperform in the past and will probably do so in the future. Madrid, the largest, has the strongest growth prospects of the larger cities.
Find Out More