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  • May 4th, 2017
  • Comments Off on Saudi private-sector growth edges up in April
Growth in Saudi Arabia's non-oil private sector edged up in April as expansion of output and new orders accelerated, although employment growth was sluggish, a survey of companies showed on Wednesday. The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers' Index rose to 56.5 last month from 56.4 in March. A level above 50 means business is expanding.

"This was another overall strong reading of Saudi Arabia's non-oil private sector activity, with output and new orders growth both very firm in April," said Tim Fox, chief economist at Emirates NBD. "However, below the surface it remains clear that companies are having to work harder to generate these gains, with little capacity to increase employment and profit margins continuing to be squeezed."



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