Saudi Arabia’s non-oil economy ticked upward in October “thanks to higher employment and growth in new orders because of increased demand from overseas,” data from the latest purchasing managers’ index show.
The headline Emirates NBD Purchasing Managers’ Index (PMI) rose slightly to 53.8 in October from 53.4 in September.
A reading above 50 indicates that the non-oil economy is growing, while a reading below 50 suggests a contraction.
The employment index rose to 51.3 in October from 50.7 in September, the highest reading since March.
[Click here to read more on the survey via Arab News]