SUMMARY
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 the economy only, with small declines in both employment and business, albeit all net positive.
“For all the lockdowns and strict measures in place, Kuwait’s consumer sentiment has been the most resilient in the Gulf. This is largely because of a parochial population and one that is driven by the government economy. The patterns that emerge in monthly fluctuations are important to understand the sentiment in Kuwait.”
Paul Kelly, Managing Partner
Kuwait’s overall consumer sentiment grew marginally again in August to +66.6 ( +0.9) – a net positive score that now marks the second-highest consumer confidence at the beginning of the series. Overall positivity remains high with small fluctuations only suggesting an overall stable consumer confidence.
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