KSA’s economy to increase significantly in October-December ...| MENAFN.COM

Wednesday, 19 January 2022 04:51 GMT

KSA’s economy to increase significantly in October-December period


(MENAFN) Based on a report from Capital Economics, Saudi Arabia is expected to go through a robust economic increase in the period of October-December of 2021, due to crude output reaching its highest record since April last year.

According to analysts at the economic consultancy corporation based in London, about 9.76 million barrels for each day were produced in October, largely in harmony with pre-covid records of production.

Despite the fact that the entire economy Purchase Manager Index declined to 57.7 points two months ago, there appears to have been a comprehensive increase in production from all industries in the period of July-September, which is expected to spread into the following quarter.

Increase in domestic distributions of cement, which represents the construction activity, surged in October.

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