RIYADH: Saudi Arabia’s non-oil private sector witnessed sharp expansions in output in September and new orders were key contributors towards the most recent improvement in operating conditions, according to the latest PMI survey from Emirates NBD. At the same time, input price inflation continued to soften in the latest survey. Moreover, firms generally reduced their output charges to increase competitiveness. Meanwhile, employment continued to increase, albeit only marginally.
The survey, sponsored by Emirates NBD and produced by IHS Markit, a world leader in critical information and analytics, contains original data collected from a monthly survey of business conditions in the Saudi private sector. Khatija Haque, head of Mena Research at Emirates NBD, said: “The PMI for Saudi Arabia has been relatively stable in Q3, signalling a solid expansion in non-oil sector growth last quarter. While output and new order growth has remained strong, external demand was softer compared to a year ago, as was employment growth. 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.”
