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News
13Morgan Stanley Cuts Saudi Economic Growth Forecast to 1.8% Contraction
Morgan Stanley cuts its Saudi economic growth forecast for 2026 to a 1.8% contraction, with oil output shrinking 17.8% and export recovery delayed until 2027.
Saudi Non-Oil Activity Grows 0.9% as GDP Drops 4.7%
Non-oil and government activities in Saudi Arabia grew by 0.9% in the second quarter, while Gross Domestic Product contracted by 4.7%.
Egyptian Economy Achieves Highest Growth in 3 Years, Reaching 5.1% in the Last Fiscal Year
The Egyptian economy grew by 5.1% during the fiscal year 2025/2026 in its strongest performance in three years, as the government targets achieving 5.4% in the coming year.
Eurozone Energy Prices Rise 14.3% Annually as Strait of Hormuz Tensions Escalate
Energy prices in the Eurozone jumped 14.3% year-on-year due to the Iranian conflict and shipping disruptions in the Strait of Hormuz.
Ocean Freight Costs Surge 40% as Houthi Threats Continue in the Red Sea
Container shipping rates on the Asia-Europe route have jumped 40% since the beginning of the year due to Red Sea tensions, adding $1,200 to the cost of each container.
US 10-Year Treasury Yield Climbs to 4.756%, 30-Year Reaches 5.25%
The yield on the 10-year US Treasury bond rose to 4.756%, while the 30-year yield reached 5.25%, as markets repriced their expectations for Federal Reserve policy.
US Fed's Preferred Inflation Gauge Rose 2.5% in July, Matching Expectations
The PCE price index registered an annual increase of 2.5% in July, matching economists' expectations and supporting forecasts of a Fed rate cut.
Real US Spending Stagnates in July Despite Economic Growth
Real US consumer spending registered growth of less than 0.1% in July despite continued economic expansion, signaling consumer caution amid inflation.
US Personal Saving Rate Rises to 3% in July as Consumers Become Cautious
The US personal saving rate recorded a rise from 2.6% to 3% in July, indicating that American consumers have become more cautious in managing their money.
European Manufacturing PMI Rises to 14-Month High
The Eurozone Manufacturing PMI rose to a 14-month high in July, driven by expansion in new and export orders, bringing an end to a prolonged industrial recession.
European Inflation Varies Across Member States, Complicating the Task of the European Central Bank
Inflation recorded varying levels in the eurozone in July, ranging between 1.9% in France and 3.2% in Spain, making it difficult for the central bank to adopt a unified monetary policy.
US Consumer Spending Stumbles Despite Economic Growth, Signalling a Stagflation Scenario
US consumer spending slowed down in the latest readings despite the continued expansion of GDP, raising concerns over a dangerous mix of weakening demand and persistent inflation.
Eurozone Records 0.4% Growth in the Second Quarter for the Second Consecutive Year
The European economy expanded by 0.4% quarter-on-quarter in the second quarter, beating expectations amid a recovery in household consumption and growth in the services sector.