Business activity in Arab world’s largest economies continued to rise in January – The National

Business activity in Arab world’s largest economies continued to rise in January – The National

Business activity in the non-oil private sector economy of Saudi Arabia and the UAE continued to expand in January, albeit at a slower pace amid a rise in Omicron cases and softer demand growth.

The seasonally adjusted Saudi Arabia Purchasing Managers’ Index posted a reading of 53.2 in January, down from 53.9 in December, but signalling a solid improvement in the health of the non-oil private sector of the Arab world’s largest economy.

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