​SAUDI: Q2 GDP beats flash estimate but reveals some sectoral weaknesses

GULF COUNTRIES - Report 13 Sep 2021 by Justin Alexander

Q2 GDP growth of 1.8% y/y was stronger than the flash estimate but the non-oil private sector contracted by -0.5% SA q/q, dragged down by transport and trade & hospitality, whereas the flash had estimated that there would be q/q non-oil growth. Covid trends and restrictions largely explain the sectoral weaknesses, and Q3 should be better.

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