Suspect charged after Vancouver car ramming leaves 11 dead    Suspect in killing of general claims he was paid by Ukraine    North Korea confirms troop deployment to Russia for first time    Rock & Roll Hall of Fame picks Outkast but not Oasis    400-800 year old giant coral colony discovered within AMAALA waters in the Red Sea    Makkah police arrest Yemeni and Egyptian suspects of fake Hajj campaign    Kafalah grants 1,900 loan guarantees worth over SR4.8 billion to SMEs during 1Q 2025    Council of Senior Scholars reaffirms performing Hajj without a permit is a sinful act    HR Ministry launches 'Ajeer Al-Hajj' service for seasonal work during Hajj 2025    stc reports strong first-quarter 2025 results with 11% rise in net profit    King and Crown Prince offer condolence to Iranian president over the deadly port explosion    Saudi Awwal Bank records SR2.1 billion net profit after zakat and income tax for 1Q25    Virgin Atlantic celebrates one month of nonstop service between London and Riyadh    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Average life expectancy in Saudi Arabia rises to78.8 years    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi non-oil sector logs solid growth in February
Published in The Saudi Gazette on 05 - 03 - 2013

JEDDAH – The Saudi non-oil private sector registered solid improvement in its business activity during February with firms reporting a surge in production and new factory orders compared to last month, the latest Saudi Arabia purchasing managers' index (PMI) compiled by Saudi British Bank (SABB) and HSBC said, noting to a further improvement in operating conditions at non-oil producing private sector companies in the Kingdom.
The headline PMI posted 58.5, up from 58.1 in January, said the SABB monthly report.
The PMI reflects the economic performance of the Saudi non-oil producing private sector companies through the monitoring of a number of variables, including output, orders, prices, stocks and employment.
Output and new order growth remained solid and employment levels continued to rise. Meanwhile, purchasing activity increased at a sharp rate.
While the rise in output was mainly driven by more new business and improving market conditions, the rise in new orders was attributed to marketing and sales efforts within companies. Moreover, the rate of growth in new work was sharp and higher than in the previous survey period. New export orders also continued to increase.
Employment levels at non-oil producing private sector firms rose further during February. According to anecdotal evidence, new business was the main reason for an increase in payroll numbers.
Backlogs of work at non-oil producing private sector firms in Saudi Arabia increased during February. While the rate at which backlogged work accumulated was only slight, survey data signaled the first increase in work-in-hand since October 2012. Meanwhile, suppliers' delivery times continued to improve, but at the weakest rate in 11 months.
The latest survey data pointed to higher prices charged by Saudi Arabian non-oil producing private sector companies. Increased input costs were commonly mentioned by companies that reported a rise in output prices.
Overall input prices also rose during February, and the rate of input cost inflation was broadly unchanged from January.
Around 11 percent of companies recorded higher input costs and only 2 percent reported a fall. While the rate of purchase price inflation picked up, wage inflation fell to a 16-month low.
Purchasing activity increased during the latest survey period in Saudi Arabia's non-oil producing private sector. Around 35 percent of panelists reported an increase in quantity of items purchased, while less than 9 percent indicated a fall.
Stocks of purchases also rose. The rate of growth was broadly unchanged from January and remained above the series average. There was some evidence that expectations of more new business partly led to the accumulation of stocks of purchases. — SG


Clic here to read the story from its source.