Saudi Non-Oil Economy Expansions Slows to Record, PMI Shows - Bloomberg Business

Saudi Non-Oil Economy Expansions Slows to Record, PMI Shows - Bloomberg Business:

"A measure of growth in Saudi Arabia’s non-oil economy fell to a record low as cheap crude weighs on the world’s largest oil exporter.
The Emirates NBD Purchasing Managers’ Index for Saudi Arabia dropped to 53.9 in January, the lowest in the six-and-a-half year history of the survey, driven by slower expansion in new business. The United Arab Emirates PMI also showed a loss in growth momentum, slipping to 52.7 in January, a 46-month low. A reading above 50 still indicates expansion.
Egypt’s PMI contracted for a fourth month, to 48 from 48.2 in December."



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