It Took Record Discounts to Get Saudi Non-Oil Economy on a Roll - Bloomberg:
Saudi companies are having to fight price wars to heat up business in non-oil industries.
A measure of activity in Saudi Arabia’s non-oil private sector hit its highest level in more than a year as firms offered steep discounts to win orders, the Emirates NBD Purchasing Managers’ Index showed on Tuesday.
The gauge rose to 56.2 last month from 54.5 in December. A reading of 50 is the dividing line between expansion and contraction. Output prices fell the most since May 2016, and some of the growth in new orders was likely due to discounts.
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