Kuwait skyline at goldenhour

Kuwait PMI March 2024

Kuwait: Kuwait PMI shows solid non-oil private-sector growth in March

The S&P Global Kuwait PMI rose to 53.2 in March from 52.7 in February. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in non-oil private sector operating conditions compared to the previous month.

Key drivers behind the latest PMI reading included a combination of advertising efforts and competitive pricing, which led to the fastest rises in business activity and new orders since July 2020. Despite the strong growth in new orders, employment increased only fractionally, leading to a continued build-up of backlogs of work for the 14th consecutive month. Efforts to meet customer demands resulted in marked increases in purchasing activity and stocks of inputs, while suppliers’ delivery times shortened to the least extent since July 2022.

Inflationary pressures were evident, with the rate of overall input cost inflation reaching its highest since July 2020, driven by rapid increases in purchase prices and the sharpest rise in staff costs on record. Companies responded to these rising input costs by raising their selling prices at the fastest rate in nearly two and a half years. Business confidence strengthened in March as around one-third of respondents predicted an increase in activity over the next 12 months.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest