Economic Costs of Middle East War Expected to Emerge Gradually

On May 5, analysts from First Abu Dhabi Bank stated in a report that the economic costs of the Middle East war are expected to become increasingly apparent in the coming days to weeks. The analysts noted that they will closely monitor the final data of the U.S. services and composite Purchasing Managers’ Index (PMI) to be released on Tuesday, while this week’s macro focus is on the U.S. non-farm payroll data for April, set to be released on Friday. Given that current price pressures, driven by energy input inflation, remain strong, they will be watching for any signs of weakness in the labor market and whether there are indications of stagflation.

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