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Gulf Economic Outlook 2020 - Q3 Update


August 2020 | Publication

The Conference Board estimates the Gulf region’s GDP growth to fall  at -5.7 percent in 2020 compared to 2019. The slight improvement in oil prices in Q3 along with the easing of production cuts as of August will give oil GDP a small boost. As worries of a possible second wave of coronavirus in Q4 mount, consumer demand will weaken further, netting the rise in oil GDP.


AUTHOR

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Hiba Itani

Senior Economist
The Conference Board Gulf Center for Economics and Business Research


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