Economic Tracker

Significant fall in oil prices has drastically altered public spending patterns throughout the region. Growing number of countries are trying to opt for a strict fiscal measures and tax impositions to combat fiscal deficit. Increased oil production from Iran post sanctions could pose greater geopolitical risks on the region’s overall economic hea...

Middle Eastern economic growth is likely to remain somber due to the geopolitical turbulences throughout 2015 out of the collapse in oil prices as well as Iran nuclear deal. While Saudi Arabia is contemplating a loss of market share given increased oil production from Iran, The United Arab Emirates and Qatar are trying to remain resilient with impr...

Oil prices might see some signs of stabilization given the discussions between Saudi Arabia and Russia in February 2016 to freeze crude oil production. Most of the oil exporting economies in the Middle East and African region, barring Qatar and United Arab Emirates due to their well-diversified economy, ended 2015 with abysmal economic fundamentals...

The North American energy renaissance has taken a back seat in 2016 due to plunging oil prices. Canada is suffering from an economic downturn due to its heavy reliance on the oil and gas industry. The Chinese slowdown and a rising dollar will further create economic headwinds in Canada. Even though the United States stays resilient because of stron...

Emerging European economies are gradually registering a positive economic growth, stemming from a sensible monetary policy from the European Central Bank. However, the reliance of the Ukrainian and Turkish economies on external financing, as a result of the ongoing critical period in these countries, has remained a major area of concern in 2014.

Strong GDP growth supported by resilient domestic demand, prudent fiscal policies, and improved business sentiments is expected for the North American countries in Q1 2015, regardless of the slowdown and uncertainty in the global economy

Western European countries are experiencing a slowdown in economic growth, but the trend is uneven across the region. Purchasing Manager’s Index gave a reading of 52.1 in October 2014 (a reading above 50 signifies an expansion in output). Although major economies such as Spain and Germany reported an increase in new business opportunities, others...

Western Europe is expected to maintain its growth momentum in the latter half of 2014 but high inflation, high unemployment, and political instability prevalent in some major countries will hamper growth. Increase in domestic and external demand is expected to further improve manufacturing production, thus stimulating growth in the next two quarter...

North American growth continued to accelerate in Q3 2014 following the strong Q2 performance. The energy sector boom, resulting in low fuel-prices and strong public-sector spending—despite modest consumer spending growth, supported strong economic expansion of the region in Q3 2014. The rise in real wages and dwindling unemployment will keep cons...