{"id":614015,"date":"2023-11-01T09:28:39","date_gmt":"2023-11-01T03:58:39","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=614015"},"modified":"2023-11-01T10:31:39","modified_gmt":"2023-11-01T05:01:39","slug":"saudi-arabias-economy-suffers-biggest-contraction-since-2020-on-oil-cuts","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-arabias-economy-suffers-biggest-contraction-since-2020-on-oil-cuts\/","title":{"rendered":"Saudi Arabia&#8217;s economy suffers biggest contraction since 2020 on oil cuts"},"content":{"rendered":"<p>Saudi Arabia\u2019s economy suffered its biggest contraction since 2020 during the third quarter, after the kingdom cut oil production to push up prices. <\/p>\n<p>Gross domestic product shrunk 4.5% in the third quarter compared to a year earlier, driven by a 17% drop in the oil economy, according to preliminary data by the General Authority of Statistics. Growth in the non-oil economy also slowed. <\/p>\n<p>That\u2019s the biggest contraction in three years, when the coronavirus pandemic was wreaking havoc across global economies, and the first output drop since the start of 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia\u2019s economy suffered its biggest contraction since 2020 during the third quarter, after the kingdom cut oil production to push up prices. Gross domestic product shrunk 4.5% in the third quarter compared to a year earlier, driven by a 17% drop in the oil economy, according to preliminary data by the General Authority of Statistics. Growth in the non-oil economy also slowed. That\u2019s the biggest contraction in three years, when the coronavirus pandemic was wreaking havoc across global economies, and the first output drop since the start of 2021.<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-614015","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/614015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=614015"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/614015\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=614015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=614015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=614015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}