The latest data released by the Purchasing Managers' Index (PMI) from Riyad Bank in Saudi Arabia showed that business conditions in the Kingdom's non-oil private sector improved at their slowest rate in two years in January.
Although business activity and new orders continue to grow strongly, slowing demand, increased competition, and increased cost pressures have led to a marked decline in expansion rates since the end of last year.
The latest data points to rising inflationary pressures as strong input demand, rising material prices, and rising supply chain risks led to the largest increase in procurement costs since mid-2012.
Source (Al-Arabiya.net Website, Edited)
