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Business conditions in Kuwait’s non-oil private sector continued to expand in May, while Egypt experienced a slower pace of contraction, offering tentative signs of stabilisation.
According to the latest Purchasing Managers’ Index surveys released by S&P Global, Kuwait’s PMI stood at 53.9, down slightly from 54.2 in April but remaining comfortably above the 50 no change mark.
Meanwhile, Egypt’s PMI rose from 48.5 in April to 49.5 in May, its highest level in three months, but still below the neutral 50.0 threshold that separates growth from contraction.
In Kuwait, non-oil firms reported strong growth in both output and new orders, extending a streak of expansion to 28 consecutive months. Respondents attributed the uptick to competitive pricing strategies and enhanced marketing efforts.
Kuwait’s expansion aligns with broader economic projections by the International Monetary Fund and the World Bank, with real gross domestic product growth forecasts of 1.9 per cent and 3.3pc, respectively, in 2025.
These projections reflect a recovery from two consecutive years of contraction, supported by rising oil production as Opec+ cuts ease, and expanding non-oil activity led by infrastructure development and credit growth.
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