Arab Today, arab today pmi shows improvement in business conditions
Last Updated : GMT 11:36:05
Arab Today, arab today
Arab Today, arab today

PMI shows improvement in business conditions

Arab Today, arab today

Arab Today, arab today PMI shows improvement in business conditions

Riyadh - Arabstoday

The Saudi British Bank (SABB) has published the results of the headline SABB HSBC Saudi Arabia Purchasing Managers\' Index (PMI) for August 2012 - a monthly report issued by the bank and HSBC. It reflects the economic performance of Saudi Arabian nonoil producing private sector companies through the monitoring of a number of variables, including output, orders, prices, stocks and employment. At 58.3 in August, up fractionally from 58.1 in July, the seasonally adjusted PMI index pointed to another robust improvement in business conditions facing nonoil private sector companies operating in Saudi Arabia. Behind the slight uptick in the headline number was a more marked increase in incoming new business, which anecdotal evidence attributed to a range of factors including greater sales and marketing efforts and improving market conditions. In addition, a number of firms also linked higher intakes of new work to increased construction activity. New work from foreign clients also increased during August, though the rate of growth was at a 21-month low. Output levels at Saudi Arabia nonoil private sector businesses increased markedly in August. Unlike the trend in new orders, however, growth of activity was the weakest since last October. Job creation also eased slightly, with overall employment levels rising at the slowest pace for five months. Backlogs of work at the Kingdom\'s nonoil private sector companies accumulated for the 10th time in the past 11 months in August, after falling marginally during the previous survey period. The increase was solid compared to the historical series trend and generally associated by respondents with greater intakes of new business. With workloads increasing on the month, purchasing activity among the Kingdom\'s nonoil private sector companies continued to rise. The pace of expansion was broadly unchanged from that registered in July, and sufficient for a further (albeit weaker) increase in stocks of purchases. Many firms that built pre-production inventories noted expectations for growth in activity over the coming months. Despite input buying increasing, suppliers\' delivery times shortened again during August. Competition among vendors and faster payments were reportedly behind the improvement in performance, which was of a similar magnitude to that registered a month previously. August data showed that prices charged by businesses operating in Saudi Arabia\'s nonoil private sector economy decreased for the first time in over three years of data collection. Although only slight, the reduction in selling prices contrasted with a further rise in average costs. Overall input price inflation was slightly stronger than July\'s seven-month low, and underpinned by growth of both purchasing and staff costs. The former rose relatively quicker over the month, with the costs of a range of raw materials pushed higher by stronger demand. From : Arabnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pmi shows improvement in business conditions Arab Today, arab today pmi shows improvement in business conditions

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pmi shows improvement in business conditions Arab Today, arab today pmi shows improvement in business conditions

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday