Kuwait is a unique economy in the GCC. Structural issues with heavy dependence on oil are some of the major concerns of the country. Moreover, a significant portion of the economy relies on the public purse. Therefore, the sentiment in the economy is often high and needs to be studied by changes in patterns. For October, we are seeing a slowdown from a drop in all major indices but mostly in business.
As D/A’s managing partner, Paul Kelly states “It is interesting when we see such significant gains and declines in business confidence in Kuwait, where consumer sentiment is driven by unwavering trust in the government. October business sentiment declined again, however, after the significant September spike that saw business match the sentiment of the economy for the first time, now presenting as an unstable factor amongst Kuwaiti’s”
