Sila Consumer Sentiment Index – Kuwait: November 2021

13th December 2021
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Although a major economic force in the GCC, Kuwait is witnessing a persistent decline in economic sentiment. November’s net positive value of 65.9% represents a notable drop from the 71.3% recorded in October – itself a decline from 75.2% in September (a series high). This amounts to an almost 10% regression in consumer sentiment over the past three months.

Private business confidence, in particular, has seen a sizeable decline from a series high of 72.7% in September to 67.3% in October, followed by a precipitous drop to 60.3% in November. The deterioration in business confidence is compounded by the country’s slower-than-expected economic recovery, political/parliamentary issues, as well as access to fiscal funds and general anxiety in the private sector.