Saudi non-oil private sector activity jumps in January on higher output, orders
DUBAI, Feb 5 (Reuters) -Growth in Saudi Arabia's non-oil business activity accelerated in January, having hit a three-month low the previous month, a survey showed on Sunday, supported by an increase in new orders and output.
The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index increased to 58.2 in January, from 56.9 in the previous month and well above the 50 mark separating growth from contraction.
Earlier this week, the kingdom's statistics agency released flash estimates of GDP growth in the fourth quarter of 2022, during which the non-oil activities sector grew 6.2%, outperforming broader economic growth of 5.4% in the quarter.
"This growth confirms the Saudi position as the fastest-growing economy among the Group of 20 countries despite economic headwinds," said Naif Al-Ghaith, Chief Economist at Riyad Bank.
"This was driven by the ongoing improvement in the business environment, private-sector employment, and increased foreign investment with governance and labour market reform," Al-Ghaith added.
The output sub-index rose to 63.6 in January from 61.0 the previous month, mainly on higher demand, as the new orders sub-index jumped to 65.3 from 62.9 in December, with the strongest increase recorded among service providers.
While companies continued to add staff however, the rate of job creation eased slightly in January from December's near five-year high, to 51.2 from 52.0.
Confidence among private firms in the non-oil sector increased to a two-year high last month with survey participants forecasting a strong year ahead supported by new order inflows, high capacity, and lower expected costs.
Reporting by Rachna Uppal; Editing by Toby Chopra
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
