Non-oil private sector growth accelerated to a six-month high

Riyadh – Abdullah Al-Saeed – The fastest pace of oil production in 2018 so far in June, the improved production and growth of new applications have been the main factors of the recent expansion, in addition to many companies participating in the study committee to increase operational capacity. For unfinished business Monthly inflation In terms of inflation, the price pressures on output and products remained modest in the context of historical data.

This study contains original data collected from a monthly survey of commercial conditions in the Saudi private sector. Khadija Haq, Head of Research Middle East and North Africa at Emirates NBD, commented on the results of the PMI: "The rise in the PMI at its highest level this year reflects the strong improvement in new orders ( including exports) What should be observed in many companies for several months, as evidenced by the good performance on future production since February, the sharp drop in the index of future production in June does not appear. is not surprising because most companies expect a sustained pace of production.The next twelve months. "

The Saudi Arabia PMI posted a slight correction of 55.0 points in June, rising from 53.2 points in May to a record high of 2018 so far, well above the neutral level of 50.0 points.The growth rate was still below average since the beginning of the year. 39, study in August 2009. [19659005] Production growth accelerated at the end of the second quarter, with the latest expansion being the strongest since last December, and many businesses saw the rise in production and strength of the new feeds. business and improving market conditions, as achieved Modify new applications in Saudi Arabia improved to its highest level in six months in June, and the new business come from local and foreign sources and foreign sources renewed with the growth for the first time since the month of January during the recent study.

Reflecting the increase in new demand flows from domestic and foreign sources, pressures on non-oil private sector capacity have accumulated, as evidenced by the sharp increase in unfinished business. .

Despite the sharp increase in new orders and ongoing business, companies hired additional staff at an average below the historical average, and job creation was slightly higher than in May.

Tensions on the prices of production inputs of non-oil private companies in Saudi Arabia increased at the fastest pace in June, four months. According to mobile data, the rise in commodity prices has led to higher costs. Modest in the context of historical data.

Product price inflation has been falling since May and several companies have tied their selling prices to promotions, with inflation remaining below the long-term average and the price is up. optimism about growth forecasts at a record level. Nine months, and was much lower than the previous month.