S&P Global to Launch S&P Global Kuwait PMI®, Expanding Survey Coverage in GCC

Rhea-AI Summary

S&P Global Market Intelligence introduces the S&P Global Kuwait Purchasing Managers' IndexTM (PMI®) to provide economic indicators for Kuwait outside the oil sector. The PMI series covers 46 countries, including Kuwait, and aims to offer real-time insights for policymakers, investors, and businesses.

Inaugural Kuwait PMI^® to be released April 3, 2024

NEW YORK, April 1, 2024  /PRNewswire/ -- S&P Global Market Intelligence, a provider of information services and solutions to global markets, today announced the launch of the S&P Global Kuwait Purchasing Managers' Index^TM (PMI^®). With the addition of the new indicator for Kuwait, S&P Global expands its reach in the Gulf Cooperation Council (GCC), now covering four countries. In total, S&P Global produces PMI data for 46 countries.

The S&P Global PMI series, produced by S&P Global Market Intelligence, is one of the most closely watched global business surveys, used by central banks, financial markets and business decision makers for their ability to provide up-to-date, reliable and unique monthly indicators on economic trends.

"We are delighted to announce the addition of Kuwait to the economies for which S&P Global compiles and publishes PMI survey data, in particular as this further expands the survey coverage in the Middle East to widen the portfolio of truly internationally comparable economic data," said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. "This expansion also demonstrates our commitment to providing high-frequency economic indicators in this important region, a focus on which will be especially closely monitored in relation to the transition from oil dependency to other services and manufacturing sectors covered by the PMI."

The new Kuwait PMI^® will provide a leading indicator with which policymakers, investors and businesses can gauge the health of the Kuwaiti business environment outside of the oil sector. The Kuwait survey data have been collected monthly since 2018, allowing the current business situation to be analyzed in the context of recent historical trends, including over the COVID-19 pandemic.

"The latest data have been especially encouraging, with February having seen the strongest improvement in business conditions over the five-and-a-half year history of the survey if the early pandemic rebound in 2020 is excluded," Williamson said.

Based on survey responses from approximately 350 private sector companies, the Index covers contributions to non-oil GDP across manufacturing, construction, wholesale, retail and services sectors.

The S&P Global Kuwait PMI will be released on the following dates:

2024

• April 3rd
• May 5th
• June 4th

A calendar of upcoming PMI® releases is available here. Click here to learn more about the S&P Global PMI®. Purchasing Managers' Index™ and PMI® are either trademarks or registered trademarks of S&P Global Inc or licensed to S&P Global Inc and/or its affiliates.

S&P Global Market Intelligence's opinions, quotes, and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendation to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security.

About S&P Global Market Intelligence

At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction.

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.

Media Contact 
SungHa Park
S&P Global Market Intelligence 
+81 3 6262 1757
sungha.park@spglobal.com

 

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SOURCE S&P Global Market Intelligence

FAQ

What is the S&P Global Market Intelligence new indicator for Kuwait called?

The new indicator for Kuwait introduced by S&P Global Market Intelligence is the S&P Global Kuwait Purchasing Managers' IndexTM (PMI®).

How many countries does S&P Global produce PMI data for?

S&P Global produces PMI data for a total of 46 countries.

Who is the Chief Business Economist at S&P Global Market Intelligence?

The Chief Business Economist at S&P Global Market Intelligence is Chris Williamson.

What sectors does the S&P Global Kuwait PMI cover?

The S&P Global Kuwait PMI covers contributions to non-oil GDP across manufacturing, construction, wholesale, retail, and services sectors.

How often will the S&P Global Kuwait PMI be released?

The S&P Global Kuwait PMI will be released on April 3rd, May 5th, and June 4th in 2024.