Saudi Arabia and UAE non-oil private sectors experienced significant growth in February, with PMI indices reaching their highest levels since 2019 and 2023 respectively.
Saudi Arabia and the United Arab Emirates' (UAE) non-oil private sectors experienced significant growth in February, with the S&P Global UAE Purchasing Managers' Index increasing to 57.1 from 56.6 in January, marking the highest level of growth since mid-2019. In Saudi Arabia, the Riyadh Bank Purchasing Managers' Index increased from 55.4 in January to 57.2 in February, reaching its highest level since September 2023. Both countries' non-oil private sectors are expected to maintain competitive edges and capitalize on market growth.
March 05, 2024
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