Quarterly GDP updates

Quarterly GDP updates

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    Sun, 09 October 2016

    Q2 real GDP trends down, forecast revised

    The General Authority for Statistics (GAS) has released GDP data for the second quarter this year showing a real economic growth of 1.4 percent compared with 4.9 percent in the second quarter of 2015 and 1.5 percent in the first quarter of this year. We expect economic performance to remain on the same trajectory for the remainder of the year.

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    Mon, 06 July 2015

    Quarterly GDP update: (Oil sector pushes up overall growth in Q1-15)

    Latest data released by CDSI show a Saudi economic growth of 2.4 percent year-on-year, 0.8 percentage point higher than in the fourth quarter of last year. Contribution to growth has remained unchanged with the non-oil sector becoming once again the main growth driver, while oil sector growth and contribution have turned positive for the first time since Q2-14. We assume that annual economic growth will trend higher for the remainder of the year, owing to an increase in oil output, while the non-oil private sector remains robust.

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    Mon, 29 September 2014

    Quarterly GDP update: Oil sector dragged down overall growth in Q2

    Latest economic growth data released by CDSI show a real economic growth of 3.8 percent year-on-year, 1.3 percentage point lower than in the first quarter of this year. Contribution to growth has changed compared to the previous quarter and has become more dependent on the non-oil sector. We assume that year-on-year economic growth will be lower in the second half of the year, owing to a decline in oil sector output, while the non-oil private sector will remain robust. 

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    Mon, 07 July 2014

    Quarterly GDP update: (Manufactuing and oil sectors lead the growth in Q1)

    Latest economic growth data released by CDSI show a real economic growth of 4.7 percent, nearly 1 percentage point higher than in the same period of 2013. Growth was unchanged compared with the previous quarter and was more dependent on the oil sector as structural changes in the labor market continued to affect the non-oil economy. As a result, a number of leading non-oil sectors registered a slowdown in growth, yet their contribution to the overall economic growth remained robust.

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    Mon, 09 December 2013

    Q3- 13 GDP: Growth picks up slightly in the third quarter

    Latest economic data released by CDSI show a real GDP growth of 3 percent year-on-year in the third quarter of 2013 and 1.1 percent higher than in the second quarter. The increase in Saudi oil production since the end of the first half was the main driver behind this growth. As a result, the oil sector’s contribution turns positive for the first time since the last quarter of last year. The contribution of the non-oil sector also remains robust despite a slower growth in a number of leading sectors.

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    Thu, 05 September 2013

    Q2-13 GDP: Growth picks up despite falling oil GDP


    Latest economic growth data released this week show a real economic growth of 2.7 percent up from 2.1 percent in the first quarter, but down from 5.5 percent in the second quarter last year. While this reading marks the second lowest quarterly growth since the first quarter of 2011, the low growth is mainly due to falling oil output. Non-oil growth picked up to 4.5 percent form 4.4 percent for both previous quarter and the same period last year with government services, construction and retail sector leading the growth. We expect year-on-year economic growth to pick up in the third quarter as the contribution of the oil sector improves.

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    Thu, 18 July 2013

    Quarterly GDP update: Oil sector pulls overall growth down in Q1-13

    Latest economic growth data released this week show a real economic growth of 2.1 percent down from 4.4 percent in the fourth quarter last year. The slowdown was fairly broad based, with only government services growing at a faster pace than in the fourth quarter. Nonetheless, most sector of the economy grew with the exception of oil sector. We assume that year-on-year economic growth will ease further in the second quarter owing to lower growth in oil production. Other sectors of the economy will benefit from solid local fundamentals.

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    Sat, 15 December 2012

    Strong economic growth in the third quarter

    The latest economic growth data released last week confirm that the healthy performance of the Saudi economy continued into the third quarter of 2012. In real terms (that is, adjusted for price movements) the economy was 5.87 percent larger in the third quarter of 2012 than in the same quarter of 2011. This strong performance was mainly driven by a solid growth in the non-oil government sector. 

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    Mon, 17 September 2012

    Private sector leads real GDP growth in Q2

    Latest economic growth data released last week confirm that the healthy performance of the Saudi economy continued into the second quarter of 2012 albeit at slower pace than previous quarters. In real terms (that is, adjusted for price movements) the economy was 5.5 percent larger in the second quarter of 2012 than in the same quarter of 2011. The non-oil private sector registered the highest year-on-year growth in the second quarter.

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    Sun, 24 June 2012

    Healthy first quarter economic growth-2012

    Latest economic growth data confirm that the healthy performance of the Saudi economy continued into the first quarter of 2012. Growth was lower than in the previous three quarters and more dependent on the oil sector. However, performance remains robust even when the oil and government sectors are removed.

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