The Saudi economy appears to have rebounded in the third quarter of the year. Our GDP tracker points towards growth of around 5% y/y, up from 2.7% y/y in Q2. Most of this improvement has come from the oil sector, where production has been ramped up to offset disruptions to supply elsewhere. As a result, oil exports touched an eight-year high in September. Meanwhile, the non-oil sector continues to grow by 5-6% y/y.
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