Google+ Followers

Sunday, 5 February 2017

Saudi non-oil economy grows at fastest rate for 17 months in January: PMI | Reuters

Saudi non-oil economy grows at fastest rate for 17 months in January: PMI | Reuters:

"Growth in Saudi Arabia's non-oil private sector accelerated to its fastest rate for 17 months in January as the government injected cash into the economy after a long period of austerity, a survey of companies showed on Sunday. The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers' Index rose to 56.7 last month from 55.5 in December. A level above 50 means business is expanding. With its finances strained by low oil prices, the government delayed paying huge debts to the construction industry and other private sector companies, in some cases for more than a year."



'via Blog this'