Saudi non-oil private sector growth edges up in August: PMI - Reuters

Saudi non-oil private sector growth edges up in August: PMI - Reuters:

Growth in Saudi Arabia’s non-oil private sector improved slightly in August as output increased, backed by stronger domestic demand, a survey showed on Tuesday.

The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) went up to 57.0 in August from a five-month low of 56.6 in July. Any reading above the 50 mark indicates expansion.

Growth has picked up this year after suffering in 2018 because of increases in fuel prices and the introduction of a 5% value-added tax.