Mubasher: The Saudi Arabia’s non-oil private sector registered a strong growth in September, as remarkable expansions in output and new orders were key contributors towards the most recent improvement in operating conditions, according to a recent report issued by Emirates NBD.
The Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) edged down to 55.5 in September from 55.8 in August.
Input price inflation in the Kingdom continued to soften as registered in Emirates NBD’s latest survey, while companies reduced their output charges to increase competitiveness.
The report noted that employment rates continued to grow, yet marginally.
“The PMI for Saudi Arabia has been relatively stable in Q3, signalling a solid expansion in non-oil sector growth last quarter,” the head of MENA Research at Emirates NBD, Khatija Haque, said, adding “The announcement of key reforms and a successful $12 billion debt issue in late September should have a positive impact on both sentiment and business activity in the coming weeks.”
Although a sharp improvement was reported in the health of the non-oil sector in Saudi Arabia, the headline PMI continued to score below the long-run average, the report added.
