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FinancialNews
06-10-21
Saudi Arabia’s non-oil private sector improves in September
(MENAFN)IHS Markit declared that Saudi Arabia’s non-oil private sector improved in September - at the fastest rate in seven years sue to the loosen of pandemic restrictions on business activity and travel.
The latest IHS Markit report also declared that the easing of the regulations increased customer demand, and helped businesses enlarge their output.
In August, the seasonally altered Purchasing Managers’ Index (PMI) increased to 58.6 in last month from 54.1. This 4.5 gain was the strongest development in the Kingdom’s non-oil sector since August 2015.
According to an economist at London-based intel firm, David Owen, “After two successive falls, the latest reading showed that the economic recovery has stamina, and the relaxation of pandemic measures will release new waves of demand.”
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