The report of the «PMI» index of the «Market IHS» group revealed the stability of working conditions in the Kingdom of Saudi Arabia, with the beginning of the second half of this year, despite the continued repercussions of the emerging Coronavirus, as there was an improvement in the indicators of new demands in production and employment and inventory of purchases.
According to the report, the economy of the non-oil-producing private sector in Saudi Arabia witnessed stability in working conditions at the beginning of the second half of this year (2020), indicating an increase of 47.7 points in the month of June.
It should be noted that the "PMI" index is a single-digit composite index that monitors the performance of the non-oil producing private sector, as it is derived from the indicators of new orders, production and employment, supplier delivery dates and stock of purchases, as any reading greater than 50.0 points indicates a total improvement in the sector.
According to the index, four of the five elements of the index contributed to positive effects, as new orders registered a larger increase of 1.5 points, followed by production with an increase of 0.8 points, as well as a high purchase stock of 0.6 points, as well as an upward employment of 0.2 points, at a time when the length of delivery times for suppliers increased at a rate of much less than in June.
Source (Asharq Al-Awsat newspaper, Edited)
