MENA | 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.
UK: Housing market on course for a soft landing
The recent sharp fall in mortgage rates and continued strong growth in wages has significantly reduced the scale of the UK's housing affordability problem. Consequently, the risk of a steep correction in house prices is much lower than it appeared a few months ago. We also expect the recent steady pickup in housing market activity to continue.Find Out More
Global Industry: Energy transition will transform mining—promise and pitfalls
We expect that demand for energy transition-related critical minerals will grow significantly in the next decades even in the absence of rapid progress required to achieve net zero.Find Out More