29 May 2024
1 mins clock icon

Monthly Insights - May 2024

A round-up of our key research and forecasts in May 2024

By Daniel Richards

Central banks in developed markets continue to plot a cautious path on how they will start to loosen monetary policy. Economic data in the US is showing signs of cooling though inflation remains a challenge for the Federal Reserve. At the same time, the trajectory for oil prices will depend on whether OPEC+ nations choose to extend their production cuts for the rest of the year.

Non-oil indicators from the GCC economies remain robust and we have upgraded our outlook for GDP growth in the UAE for 2024 to 3.7% thanks to growth of 5% in the non-oil sector. In Saudi Arabia, infrastructure investment is helping to support growth in the near term while also helping the long-term trend of diversification of the Kingdom’s economy.

Download Monthly Insights May 2024

Written By

Daniel Richards Senior Economist

Edward Bell Head of Market Economics

Jeanne Walters Senior Economist

Khatija Haque Head of Research & Chief Economist

There was an error during your feedback!

Your feedback is valuable to us and will help us improve.

Daniel Richards

Related Articles

Subscribe to our newsletter and stay updated on the markets

There was an error during your newsletter subscription!

Please try again to stay updated with all the latest financial news and valuable insights.

Thank you for newsletter subscription!

To stay updated with all the latest financial news and valuable insights.