Research Briefing | Nov 11, 2021

MENA | Coronavirus tracker for the GCC – November update

Coronavirus tracker for the GCC – November update

Signs of the GCC’s strengthening recovery from the Covid-19 pandemic continue to emerge. The PMI for Dubai rose to its highest level in over two years in October as the start of Expo 2020 boosted activity in the travel and tourism and retail sectors.

What you will learn:

  • Meanwhile, Saudi GDP expanded by 5.8% q/q in Q3 2021 (and 6.8% y/y) boosted by a double-digit rise in the oil sector as OPEC+ relaxed production quotas.
  • The non-oil sector also continued to recover strongly, expanding by 1.6% q/q as Covid restrictions eased and the government continued to ramp up investment.
  • The Kuwait government tendered its resignation on Monday after several rounds of talks between government officials and opposition lawmakers.

Back to Resource Hub

Related Services

Post

Global Scenarios Service: Taiwan Tensions

Global economic prospects remain relatively subdued. The peak impact of past policy tightening has yet to be fully felt in the advanced economies and China is expected to underperform relative to consensus.

Find Out More

Post

Why a US year-end slowdown is still our base case

We still think that the US economy is headed for a slowdown at the turn of the year. Three factors will increasingly weigh on growth: the impact of past rate rises; the drag from fiscal policy; and less resilient household finances.

Find Out More