Saudi Arabia Non-Oil Private Sector Maintains Strong Growth Momentum
By RTTNews Staff Writer ✉ | Published:
Saudi Arabia’s non-oil private sector logged a further strong expansion in September, though the rate of growth eased slightly from August, survey results from S&P Global showed on Tuesday.
The Purchasing Managers’ Index dropped to 56.6 in September from 57.7 in August. However, a reading above 50 indicates expansion in the sector.
Both output and new orders continued to grow at sharper rates in September, though at a slower rate than a month ago. A firm market demand and high quality of goods and services contributed to the increase in new orders.
On the price front, input price inflation remained sharp amid increased prices of globally sourced raw materials and oil-related products. Output price inflation rose only marginally.
Manufacturing units recruited more staff in response to rising activity, although growth was marginal and the weakest in the current six-month period.
Goods producers remained optimistic about output in the next twelve months, linked to expectations of a continuation of strong sales amid high enquiry levels and a strong pipeline of new work.
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