Saudi non-oil new business growth at seven-year high in Sept -PMI | Reuters
Saudi Arabia's non-oil private sector grew in September, with new orders rising at the fastest rate in seven years, a business survey showed, as a relaxation of COVID-19 restrictions on activity and travel boosted customer demand.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) surged to 58.6 in September from 54.1 in August, well above the 50 mark that separates growth from contraction.
The 4.5 point gain signalled the strongest improvement in non-oil business conditions since August 2015.
Firms expanded output at the sharpest rate since May and new orders received by non-oil companies jumped, with the respective sub-index rising by almost 10 points month on month.
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