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FINANCIAL NEWS
Saudi’s non-oil private sector grows in May
06 Jun 2016
(MENAFN) Saudi Arabia’s non-oil private sector maintained stable among the second quarter, as business conditions enhanced to the greatest extent.
Moreover, both output and new orders increased in May, while firms raised their input buying at a faster pace.
The non-oil private sector economy jumped to a six-month high of 54.8 percent in May, from 54.2 percent in April.
However, the growth in the sector was muted as the newest figure remained closer to Jan’s record low at 53.9 percent than the long-run series average 58.6 percent.
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