Saudi Arabia's non-oil private sector grew at its fastest pace in just over a decade in January, driven by a strong increase in new orders and booming business activity.
Riyad Bank's seasonally adjusted PMI rose to 60.5 last month, compared to 58.4 in December, its highest level since September 2014. The expansion was driven by the fastest rise in new orders since June 2011, with the index jumping to 71.1 in January from 65.5 in the previous month, supported by positive economic conditions and new infrastructure projects, boosting domestic demand and export sales.
Source (CNBC Arabia Website, Edited)
