FYI
Nawaf Y. Husein
Faculty Member
Msc, CRP , CLBB
Saudi Training Society Member
Institute of Banking
Saudi Arabian Monetary Agency ( SAMA)
P.O.Box : 10820 Riyadh 11443 Saudi Arabia
Tel : + 966 1 463 3000 Ext. 3825
Fax: + 966 1 466 2368
Mobile : + 966 55 48 44 828
SKYPE : abuhejleh2
Dear all,
All economies have seasonal trends, but for Saudi Arabia these trends are more pronounced than for most other global economies. In the attached report, we examine quarterly earnings for each of the 15 sectors of the market as well as quarterly real GDO growth rate to determine seasonal trends. Within corporate results, the fourth quarter tends to be the weakest as companies choose to clean up their balance sheets in order to start the new year on a sounder footing while the second quarter is generally the peak time for private sector activity owing to a push from companies to conclude deals and projects ahead of the summer slowdown. The report also highlights some puzzling seasonal trends in the recently released quarterly real GDP growth particularly in the oil and manufacturing sectors, though it appears that this early data is subject to further revisions.
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