“A third successive rise in the Saudi Arabia PMI pointed to an economy getting back on its feet in November…Employment started to rise, while business confidence strengthened in the wake of encouraging vaccine news and sharper demand growth. As a result, there was evidence of firms raising investment in anticipation of an uplift in 2021 should the pandemic come to an end.”
-David Owen, economist at IHS Markit, in comments on the pickup in Saudi Arabia’s non-oil economy as the impact of the Coronavirus eases. [Reuters]
