Saudi Non-Oil Economy Boosted by Fastest Job Growth in 9 Years - Bloomberg
Saudi Non-Oil Economy Boosted by Fastest Job Growth in 9 Years - Bloomberg
Saudi Non-Oil Economy Boosted by Fastest Job Growth in 9 Years
Saudi Arabia’s non-oil economy saw its fastest job growth in nine years in October, signaling another improvement in business conditions as the world’s biggest crude exporter seeks to diversify.
The Riyad Bank purchasing managers index for Saudi Arabia rose to 58.4 in last month from 57.2 in September. The gauge was well above the 50-mark separating growth from contraction and “indicative of a substantial upturn in the health of the Saudi Arabian non-oil private sector,” the report said.
Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
LEARN MORE
Up Next
Saudi Non-Oil Economy Boosted by Fastest Job Growth in 9 Years
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.