The United Arab Emirates' non-oil private sector expanded for a sixth consecutive month in May, though it did so at a place slightly lower than in April and employment shrank for the fourth straight month, a survey showed on Thursday.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers Index (PMI) rose to 56.4 in May from 55.2 in April, its fastest pace of growth since January.
Reuters
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A view shows vehicles driving on a street in Riyadh, Saudi Arabia February 16, 2021. REUTERS/Ahmed Yosri
Saudi Arabia s non-oil private sector expanded for the ninth consecutive month in May and did so at a pace that quickened for a second straight month, a survey showed on Thursday, further solidifying its recovery from the pandemic and last year s historic slide in oil prices.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers Index (PMI) rose to 56.4 in May from 55.2 in April, its fastest pace of growth since January. It signalled a robust improvement in business conditions and approached the series average of 56.9.
"UAE s non-oil private sector showed further signs of improvement in May, although growth slipped marginally from April s recent high. New orders were largely supported by domestic sales, as latest data signalled a slight decrease in export orders," said David Owen, economist at survey compiler IHS Markit.
By Reuters Staff
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FILE PHOTO: View shows the King Abdullah Financial District, north of Riyadh, Saudi Arabia, March 1, 2017. REUTERS/Faisal Al Nasser
DUBAI (Reuters) - Saudi Arabia’s non-oil private sector grew for the seventh straight month in March, albeit at a slower pace, with output and new orders expanding more moderately than a month earlier, a survey showed on Monday.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) fell slightly to 53.3 in March from 53.9 in February, remaining above the 50 mark that separates expansion from contraction.
The overall index has fallen from a recent peak of 57.1 in January, indicating the recovery from the COVID-19 pandemic has lost some momentum.