Business activity in the Arab world’s largest economies improves sharply in February – The National

Business activity in the Arab world’s largest economies improves sharply in February – The National

Business activity in the non-oil private sector economies of Saudi Arabia and the UAE gained further momentum in February, shaking off Omicron-related uncertainties as new business rose amid robust consumer demand.

The seasonally adjusted Saudi Arabia Purchasing Managers’ Index rose to 56.2 in February from 53.2 recorded in January, marking the first uplift in the index since last September. The latest reading signalled a strong improvement in operating conditions that was the fastest recorded in three months.

A reading above the neutral level of 50 indicates expansion while one below it points to a contraction.