Page 14 - அதிகாரம் க்கு புள்ளிவிவரங்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Investors eye Saudi inflation plays as Fed turns hawkish
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Saudi inflation rate rises again in May, hits 5 7%
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Saudi inflation driven up by food and vehicle prices as VAT hangover lingers
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Saudi first quarter GDP shrinks 3%, hit by oil sector decline Reuters 11 hrs ago
DUBAI, June 14 (Reuters) - Saudi Arabia s gross domestic product fell 3% in the first quarter, slightly less than official estimates and compared with a 1% contraction last year, as a sharp fall in the oil sector pulled back the economy, data showed.
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The kingdom s economy has been hit hard by the twin shock of last year s historic oil price crash and the COVID-19 pandemic.
The non-oil sector grew 2.9%, from 1.6% growth a year earlier, while the oil sector declined by 11.7% which was a much sharper fall than the 4.6% contraction a year earlier, the General Authority for Statistics said in a statement on Monday.
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