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Gulf Economic Outlook 2020 - Q3 Update
August 31, 2020 | Report
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
Hiba Itani
Former Senior Economist
The Conference Board Gulf Center for Economics and Business Research
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Complimentary.
