New leading indicator MEPX launched to monitor performance of private sector

New leading indicator MEPX launched to monitor performance of private sector

RIYADH — The Ministry of Economy and Planning Sunday launched a novel economic analysis index, known as MEPX, to monitor the performance of the Kingdom’s private sector. MEPX is a leading indicator that has been designed and developed by the Ministry’s economic analysts to track ten economic factors classified into four categories, consumers, firms, and the financial and trade sectors. It provides regular, in-depth analysis of the Kingdom’s private sector business cycles through advanced econometrics techniques. The insights and analysis gathered by MEPX will enable the Ministry to further support the Kingdom’s economic policymaking and strategies based on emerging data, market trends and fluctuations. Commenting on the launch of the innovative economic tool, Minister of Economy and Planning Faisal F. Al-Ibrahim said: “The first MEPX business cycle composite index marks an important milestone in our mission to provide accurate, trusted, and transparent economic data and statistics in the Kingdom. “As the Kingdom records its fastest economic growth in a decade, increasing access to emerging data is crucial to informing pro-growth policymaking as we look to enhance the private sector’s contribution to 65 percent of Saudi Arabia’s GDP by 2030.” He added: “MEPX will allow economists, policymakers and business leaders to