Gulf Insider
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. A PMI reading above 50 signals expansion, while a figure below that threshold indicates contraction. The broad-based slowdown comes amid escalating regional tensions following the outbreak of war involving the US and Israel against Iran in late February, which has disrupted flights and shipping routes and heightened uncertainty across Gulf economies. Andrew Harker, economics director at S&P Global Market Intelligence, said: “The S&P Global Kuwait PMI provides a clear indication of the impact of the war in the region on non-oil businesses during March.” He added: “Companies reported that the suspension of flights and shipping were key factors leading to reduced new orders and business activity, with firms responding by limiting their employment and purchasing.” Survey data showed […]
Go to News Site