Middle East non-oil growth slows as Iran conflict disrupts trade 

RIYADH: Non-oil business growth slowed across the UAE, Kuwait and Egypt in March as the Iran conflict disrupted trade, dampened demand and increased costs, S&P Global data showed. The UAE’s PMI eased to 52.9 in March from 55 in February, its lowest level since July 2025, though it remained in expansion territory. Kuwait saw a sharper deterioration, with its PMI falling to 46.3 from 54.5, slipping into contraction for the first time in over a year. Egypt’s index declined to 48 from 48.9, marking its lowest level in nearly two years.

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