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JPMorgan trims GCC non-oil growth forecasts on Middle East conflict.
JPMorgan trimmed its outlook for non-oil growth for economies across the Gulf region this year following the widening Iran conflict over the weekend, warning that there was a risk of bigger revisions ahead.
The Wall Street bank cut non-oil growth by 0.3 percentage points across the bloc, with Bahrain and the United Arab Emirates seeing the biggest reduction, at 0.5 percentage points and 0.4 percentage points, respectively.
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