Saudi Arabia's non-oil private sector saw another solid improvement in August, with the Riyad Bank Purchasing Managers' Index (PMI) edging up to 56.4 from 56.3 in July, signalling continued expansion above the 50.0 growth mark. According to Riyad Bank PMI report on Wednesday, business activity rose at a quicker pace, fuelled by stronger new orders and higher export sales, particularly within GCC markets. Firms attributed the gains to improved demand, intensified marketing, and domestic infrastructure projects. "The slight increase signaled another month of steady growth, driven by improving demand conditions, a modest rebound in output growth, and further gains in employment. Although activity growth has eased from the highs seen earlier this year, the underlying trend remains firmly positive." Naif Al-Ghaith , Chief Economist at Riyad Bank, said. Employment levels witnessed " another historically robust rise." This This latest increase was attributed to new projects and larger sales departments, though hiring growth eased to its slowest since May. Purchasing activity also strengthened, lifting inventories to their highest in four months. Meanwhile, companies faced steeper input costs from materials, transport, and technology, though wage growth moderated. Many firms passed on part of the higher costs to customers, raising selling prices modestly. Attribution: Amwal Al Ghad English Subediting: Y.Yasser Download
