Saudi Arabia’s businesses are back to adding jobs

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17-Dec-2020

According to the published report, Saudi Arabia’s employment numbers have made a welcome return to growth for the first time since January, giving enough confidence that the economy will close out the year on a relative high. After a harrowing first- half brought about by the Covid- 19 spread, businesses can take a lot of heart from the modest turnaround. “A third successive (monthly) rise in the Saudi Arabia PMI (Purchasing Managers’ Index) pointed to an economy getting back on its feet in November,” said David Owen, Economist at IHS Markit, the agency that tracks private sector spending and other indicators. “Supported by output and new business growth reaching ten-month highs, the data suggests a strong end to the year for the non- oil private sector.”

 

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