New orders lift Saudi non-oil business activity growth to 4-month high-PMI ...Middle East

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DUBAI, Nov 5 (Reuters) – Growth in non-oil business activity in Saudi Arabia accelerated for a second consecutive month in October, a survey showed on Sunday, with new orders supporting an overall expansion in activity which led to a sharp rise in employment levels. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index rose to 58.4 in October from 57.2 in September – far above the 50 mark denoting growth and the highest reading since June. New business expanded faster with the new orders subindex surging to 66.1 in October, also a four-month high, from 64.2 the previous month. The growth in output and new business was spread across most sectors, including manufacturing

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Last updated : 05 Nov 2023 clock 08:21 AM

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New orders lift Saudi non-oil business activity growth to 4-month high-PMI ...Middle East

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