GulfBase GCC Cap Indices
Large Cap3,912 -0.22
Med Cap3,902 0.08
Small Cap5,065 -0.07
Micro Cap8,584 0.50

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Ticker Price Volume
QNBK 143.8 312,074
SABIC 95.98 4,534,377
ALMARAI 73.08 135,963
STC 66.9 212,948
ORDS 103.8 74,035
MMG 12.55
RIBL 10.33 260,208

RC Monthly Economic Report

Source: Riyad Bank

Saudi Economic Outlook

Economic activity continues to stabilize; while outlook for growth in the medium term remains mixed, in line with the global economy

Latest economic and financial indicators show some improvement in Saudi economic conditions, although, the near-term economic growth outlook continue to remain mixed. One of the two coincident indicators (total ATM and POS transactions) has improved compared to the previous month (shown in green). Two of the leading indicators (e.g., oil price and new letters of credit) have worsened recently (shown in red) compared to the previous month, two (monetary base and the Tadawul index) have improved (shown in green), while one has remained flat (shown in black), suggesting mixed outlook for the coming months. The lagging indicators are mostly in the red, thus continuing to suggest economic sluggishness for the months ahead. As we mentioned before, global trends usually affect the region with a lag, so the huge wave of the global recession that peaked in March continues to pass over our shores. However, we continue to be optimistic for the longer term, as momentum is changing to flat or even up for most of the indicators. We expect the Saudi economy to remain flat in the months ahead, before showing appreciable growth, perhaps in the 1st first half of 2010.

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