Saudi non-oil private sector output highest in nearly four years -PMI By Reuters – Investing.com

Saudi non-oil private sector output highest in nearly four years -PMI By Reuters – Investing.com

DUBAI (Reuters) - Saudi Arabia's non-oil private sector notched a 14th month of consecutive growth in October as output expanded at the fastest rate since December 2017, signalling the sector's continued strengthening, a survey showed on Wednesday.

The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) fell to 57.7 in October from 58.6 in September but remained well above the 50.0 mark that separates growth from contraction.

It was also above the series average of 56.9 and with the exception of the September reading was the fastest pace of growth since November 2019. The output sub-index rose to 62.1 in October from 61.2 in November.