The Saudi British Bank (SABB) has published the results of the headline SABB HSBC Saudi Arabia Purchasing Managers' Index (PMI) for November 2010 — a monthly report issued by the bank and HSBC.
It reflects the economic performance of Saudi Arabian nonoil producing private sector companies and firms through the monitoring of a number of variables, including output, new orders, exports, input prices, output prices, quantity of purchases, stocks and employment.
The headline index climbed to 62.2 in November — its highest level to date — up from 59.9 in October. The reading signaled another sharp improvement in the health of Saudi Arabia's nonoil private sector economy.
The development of the saudi arabian economy has gone hand in hand with the establishment and expansion of the Saudi state during the last fifty years. The process of building the state, fortified by oil revenues distributed through the modern institutions of bureaucracy, worked to unify this economically diverse country.
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