RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-12-04 11:55:00

SAUDI ECONOMY UP

SAUDI ECONOMY UP

AN - The Saudi economy recorded its biggest increase in new work in more than four years in November according to a report from IHS Markit.

The headline seasonally adjusted Purchasing Managers' Index – a composite gauge designed to give a snapshot of operating conditions in the non-oil private sector economy – posted 58.3 in November, up from 57.8 in October.

"A bright spot was a quickening of overall new order growth, which reached its fastest pace since April 2015," said IHS MArkit economist Amritpal Virdee.

The Saudi economy is rebounding from a sharp slowdown that was triggered by the collapse of oil prices in 2014 that led to many projects being shelved or delayed. The stabilization of oil prices, helped by the ongoing production cuts orchestrated by OPEC and Russia, has boosted spending while at the same time ongoing reforms is making it easier for foreign companies to do business in the Kingdom.

Employment among non-oil private sector companies rose in November, but the rate of job creation was marginal and subdued by historical standards. and the highest in over four years, IHS Markit said.

Firms across the non-oil private sector scaled up their purchasing activity to support increased output requirements according to reports from surveyed businesses. However, growth in buying levels eased.

Some evidence emerged of rising prices with the latest data showing the third increase in charges for goods and services in the past four months.

However, the rise in selling prices was marginal.

Overall input prices continued to increase in November, but the rate of inflation eased for the second month running and was subdued by historical standards. Finally, November's survey indicated longer lead times on purchased items for the first time since July 2011, which anecdotal evidence attributed to insufficient stocks among suppliers.

"Overall, the private sector economy is well-placed as we look forward to 2020, with the survey's forward-looking gauge, the Future Output Index rising to a nine-month high on the pace of new product initiatives and more positive forecasts for underlying demand," added Virdee.

-----


Earlier:

SAUDI ECONOMY UP
2019, November, 25, 13:05:00
SAUDI'S OIL FOR CHINA UP BY 76%
Saudi shipments grew to 8.41 million tonnes, or 1.98 million barrels per day (bpd), compared with 1.74 million bpd in September and 1.12 million bpd in same period last year,
SAUDI ECONOMY UP
2019, November, 18, 13:15:00
SAUDI ARAMCO VALUATION $1.7 TLN
Crown Prince Mohammed bin Salman had been seeking a valuation for the world's biggest oil and gas company of $2 trillion. Saudi Arabia's government currently owns all of Saudi Aramco's 200 billion shares outstanding.
All Publications »
Tags: SAUDI, ARABIA, ECONOMY
Chronicle:
SAUDI ECONOMY UP
2022, July, 6, 10:59:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
SAUDI ECONOMY UP
2022, July, 6, 10:58:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
SAUDI ECONOMY UP
2022, July, 6, 10:55:00
S.KOREAN NUCLEAR POLICY
"it is imperative that new energy policy goals and directions are set so as to better accomplish carbon neutral government projects and the expansion of nuclear power."
SAUDI ECONOMY UP
2022, July, 6, 10:50:00
RUSSIAN NUCLEAR FOR ARMENIA
The joint working group was chaired by Armenia’s Deputy Minister of Territorial Administration and Infrastructures, Hakob Vardanyan. The Russian delegation was headed by Viktor Kolesnikov, project manager and Advisor to the President of Rusatom Energy Projects.
SAUDI ECONOMY UP
2022, July, 6, 10:45:00
IRANIAN NPP 360 MW
At the moment, the only functioning nuclear power plant in Iran is the first stage of the Bushehr NPP, built with Russian assistance.
SAUDI ECONOMY UP
2022, July, 5, 12:35:00
OIL PRICE: BRENT NEAR $113, WTI ABOVE $109
Brent fell by 60 cents, or 0.5%, to $112.89 a barrel, WTI climbed $1.13, or 1.1%, to $109.58 a barrel.
SAUDI ECONOMY UP
2022, July, 5, 12:30:00
RUSSIA, INDIA: RELIABLE PARTNERS
Many of our companies, including energy companies, are operating in Indonesia. There is interest in developing the national nuclear power industry.
All Publications »