Initial Optimism But Growth To Slow

December 2006 | BMI View

In its latest Kuwait Automotive Report, BMI has revised its car sales forecast due to an upward revision of our overall economic growth forecasts. We therefore forecast automotive sales growth of 1.8%, an upward revision from the 1.4% forecast in the previous quarter. Although GDP growth has been revised to 6.5% from 5.5% in the previous quarter, volatility in the stock market - where many Kuwaitis have invested their savings - will have a dampening effect on consumer demand. We expect the market to peak in 2007, before contracting steadily in subsequent years in line with reduced economic activity related

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