Saudi Arabia’s non-oil sector records strongest growth in 7 months
RIYADH — Saudi Arabia’s non-oil private sector maintained its growth trajectory in September, reaching its highest level in seven months, according to the latest Purchasing Managers’ Index (PMI) data from Riyad Bank.The data showed that growth in demand recovered to levels approaching its usual pace, while employment and purchasing activity recorded faster rates of expansion. The headline PMI…
RIYADH — The non-oil private sector of Saudi Arabia demonstrated robust growth in September, reaching its strongest level in seven months according to the latest Purchasing Managers' Index (PMI) data released by Riyad Bank. The headline PMI increased from 53.8 in August to 55.3 in September, marking the sixth consecutive month of improving business conditions in the non-oil economy. This upward trend was the most significant since February.
However, the rapid growth was primarily fueled by a substantial rise in new orders, which brought the index closer to its long-term average. This surge in new orders suggests that demand conditions have largely recovered since they slowed down in mid-2020. Despite this, the accompanying deceleration in output growth was noticeable.
Written by urgent.news from Saudi Gazette's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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