RIYADH: Business activity across Middle Eastern and North African economies showed mixed trends in August, with the UAE leading growth while Kuwait and Egypt recorded contractions, according to market trackers.
The headline S&P Global Purchasing Managers’ Index, a composite gauge of non-oil private sector performance, is derived from data on new orders, output, employment, supplier delivery times, and inventory levels.
The latest PMI data from S&P Global showed the UAE rising to 53.3 in August from 52.9 in July, rebounding from a 49-month low and remaining comfortably above the neutral 50 mark. The reading signaled an improvement in non-oil private sector conditions.
In Kuwait, the index edged down to 53 from 53.5 in July, its weakest level in six months, though still indicating expansion midway through the third quarter. Egypt, however, slipped further into contraction territory, falling to 49.2 from 49.5 a month earlier. While the decline quickened, it remained less severe than the survey’s long-term average of 48.2.
The figures align with World Bank projections that Gulf Cooperation Council economies will expand by 3.2 percent in 2025 and 4.5 percent in 2026, supported by easing OPEC+ production cuts and stronger non-oil sector activity.
