Strong Growth in Saudi Arabia’s Non-Oil Private Sector

Based on the adjusted Emirates NBD Saudi Arabia Purchasing Manager’s Index. The non-oil private sector in Saudi Arabia closed out 2017 with steep movements in the business conditions. The index is designed to gauge the operating conditions in the non-oil private sector economy using single-figure snapshot. Saudi Arabia’s PMI partially declined in December from 57.5 to 57.3. Generally, the recent statistics were above average last year which implied that the increase remained sharp

In addition to it, non-oil private sector companies in the country still showed sharp rates in the expansion of its output, however, the evidence seems unreliable which indicates that domestic demands and growth in orders from bordering countries bolstered to the higher output requirements.

On the other hand, business confidence regarding future economic outlook has reduced fractionally despite the remaining optimism, in general. While the recovery in business conditions and development in marketing activity are projected to support the productivity growth in 2019.