Saudi non-oil private sector growth slumps

06 July 2015

Emirates NBD purchasing managers survey shows slowdown in new orders in June

  • Kingdom’s non-oil private sector saw its slowest month in more than five years in June, according to purchasing managers’ index
  • Slowdown in growth was underpinned by the weakest rise in new orders since the survey began in 2009

Growth in Saudi Arabia’s non-oil private sector hit its slowest month in more than five years in June, according to a purchasing managers’ index (PMI) produced by Dubai-based bank Emirates NBD.

The slowdown in growth was underpinned by the weakest rise in new orders since the survey began in 2009, while output growth also slowed.

The PMI dropped to 56.1 in June from 57 in May, as the growth of the sector eased through the second quarter of 2015.

“While the PMI data suggests growth in the non-oil sector has slowed markedly in the second quarter of 2015, it is important to note that these sectors are still growing at a robust rate, with the PMI readings well above the neutral 50-level,” says Khatija Haque, head of Middle East and North Africa research at Emirates NBD.

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