The records describe separate second-quarter 2026 economic reports. Saudi Arabia’s economy contracted 4.7% year-on-year, revised from a preliminary 4.8% decline, reversing 3.0% growth in the previous period and marking its first contraction since the fourth quarter of 2023. Oil activities fell 24.8% amid ongoing US-Iran tensions and disrupted shipping through the Strait of Hormuz, while non-oil and government activities each grew 0.9%. South Africa’s economy contracted 0.2% quarter-on-quarter on a seasonally adjusted basis, versus a 0.1% contraction forecast, after six quarters of growth and a downward revision to first-quarter growth of 0.4% from 0.5%. The contraction was the first release to capture more fully the economic effects of the U.S.-Israeli war against Iran, which began in late February and later pushed up domestic fuel prices. Annual GDP growth slowed to 0.9% from 1.9%, below economists’ 1.2% forecast and an earlier 1% expectation, while mining, trade and energy-intensive manufacturing declined.