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  • 03-02-22

    UAE, Saudi Arabia mark biggest growth in January among Arab nations

    (MENAFN) In January, Saudi Arabia and the UAE’s business performance in the non-oil private industry pursued growth, although the speed was slower during an increase in Omicron case numbers and less demand.

    Saudi Arabia Purchasing Managers’ Index issued a new reading containing 53.2 for January, declining from 53.9 in December. Nevertheless, it remarked a powerful development in the sector of health and non-oil private sector in the region’s biggest economy.

    On Thursday, IHS Markit stated in the newest PMI survey, an increase in Coronavirus case numbers resulted in an “increased hesitancy” among businesses and people.

    The level of fresh development decreased for the fourth month in a row and it was slowest since 2020 October. Business which were part of the survey mentioned that a number of clients didn’t place their orders because of the ambiguity in the economy’s condition with the fresh strain.

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