Saudi Arabia’s non-oil private sector continued its strong growth in February, driven by strong customer demand, increased hiring, and a positive economic outlook.

According to the latest Riyad Bank Purchasing Managers’ Index report, the score stood at 58.4, reflecting sustained increases in business activity despite a slight dip from January’s decade-high reading of 60.5. The Kingdom’s PMI drop comes as Kuwait’s index slowed to 51.6 with job cuts, while Egypt’s fragile recovery saw a slight decline to 50.1, marking its second month above the neutral level of 50.

The PMI measures non-oil sector health using key factors. A score above 50 signals growth, and below 50 indicates decline. Although there was a slight decline in February, business conditions stayed robust, supported by consistent new orders and growing exports.

Companies across various industries reported flexible demand conditions, with 35 percent of surveyed firms experiencing an increase in new business orders, compared to just 5 percent reporting a decrease.

Additionally, new export orders rose sharply, reflecting strong international demand for Saudi non-oil goods and services. Some firms also underlined that promotional pricing strategies helped attract new customers.

Source: ARABNEWS