Q3- 13 GDP: Growth picks up slightly in the third quarter

Latest economic data released by CDSI show a real GDP growth of 3 percent year-on-year in the third quarter of 2013 and 1.1 percent higher than in the second quarter. The increase in Saudi oil production since the end of the first half was the main driver behind this growth. As a result, the oil sectors contribution turns positive for the first time since the last quarter of last year. The contribution of the non-oil sector also remains robust despite a slower growth in a number of leading sectors.