Conflicting data on Saudi economy | Commentary | MEED:
"Full impact of lower oil prices has not been realised
The first half of 2015 is over and it is time for a bombardment of reports and results. Although there are endless metrics to analyse and interpret, most just want to know whether the Saudi market is growing or contracting.
The question is particularly important this year, as a new king takes charge in Saudi Arabia and the economy digests a sharp decline in oil prices, which on 1 July 2015 were down by 42 per cent when compared to the same date last year. According to the US’ Energy Information Administration (EIA), the average daily spot price for Brent Crude was $57.82 a barrel during the first half of 2015, down 46.9 per cent on the average daily price of $108.93 during the first half of 2014."
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