Saudi non-oil business activity rise in December
- Saudi Arabia: Monday, January 07 - 2013 at 04:14
According to SABB HSBC's Saudi Arabia Purchasing Managers' Index, Saudi Arabia's non-oil private sector accelerated last December from the preceding month's one-year low, Saudi Gazette has reported. The Index climbed to 58.9 points on a seasonally-adjusted basis in December from 57.0 in November. The index reflects the economic performance of the non-oil producing private sector companies through the monitoring of a number of variables, including output, orders, prices, stocks and employment. December data signalled a further rise in production at non-oil producing private sector firms in Saudi Arabia, with almost 30% of respondents indicating higher output levels, the report said. New export orders received at Saudi Arabian non-oil producing private sector firms rose further in December and at the sharpest rate in 17 months, it said.
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