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Financial News: Saudi Arabia Non-Oil Private Sector Growth At 8-Month

Saudi Arabia Non-Oil Private Sector Growth At 8-Month Low

07/04/2017 - 01:45:00 (RTTNews)

(RTTNews) - Saudi Arabia's non-oil private sector expanded at the weakest pace in eight months in June, survey figures from Emirates NBD and IHS Markit showed Tuesday.

The headline Emirates NBD Purchasing Managers' Index, or PMI, dropped to 54.3 in June from 55.3 in May. However, any reading above 50 indicates expansion in the sector.

Among components, both new orders and output rose at the slowest rates in eight months. Meanwhile, firms increased their staffing numbers at the fastest pace since August 2016.

On the price front, input price inflation was slightly above May's survey-record low. As a result, average selling prices rose.

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