Gulf Economies Post Strong Growth, UAE Leads Regional Rebound

The UAE recorded its fastest non-oil growth since December 2024, according to the S&P Global Purchasing Managers' Index. The index rose to 55.3 in August from 52.7 in July, marking a second consecutive month of faster growth.

New business increased at the joint-fastest pace in more than two years, while output growth reached a six-month high. Export demand also increased for a second month following declines during the second quarter.

Companies in Saudi Arabia and Kuwait posted significant improvements, with their respective indices reaching 53.8 and 53.6 in August. Saudi Arabia's business activity grew at the fastest pace in seven months, while Kuwait recorded one of the strongest monthly improvements in the region.