Kuwait is a unique economy in the GCC. Although there are structural issues, heavily driven by oil, Kuwait has a substantial amount of its economy reliant on the public purse. Therefore, sentiment is often high and needs to be looked at through patterns of change – this month we see growth coming from confidence in all major indices – but mostly in Business.
“It is interesting when. We see such a significant gain in business confidence in Kuwait, where consumer sentiment is driven by unwavering trust in the government. September was the first month that we have seen sentiment in business just about match that of the economy and of course, all driven by high employment optimism ”
Paul Kelly, Managing Partner
September’s overall sentiment for Kuwait had a significant increase of 6.7 basis points. The largest singular month of growth in overall sentiment since the beginning of the year.
Growth came from all 3 major indices, but surprisingly mostly from economy and business confidence with employment showing the smallest of the months increase (albeit of a larger base).