Saudi Arabia’s economic rebound continues apace, with growth accelerating to 11.8% last quarter. Preliminary government figures for Q2 show that real terms year-on-year GDP growth accelerated from 9.9% in Q1, driven by a mammoth 23.1% increase in oil-sector GDP (see chart 1). Q2 growth was the fastest since 3Q 2011, when the economy grew by 13.6%.