Saudi Arabia's private sector economic growth, the first in seven months, was driven by a rise in output, new business and exports.Firms saw a weaker rise in input costs during the month, as the impact of a rise in value-added tax (VAT) eased considerably since August. Output charges in September also rose more slowly, according to IHS Markit survey.
"Business activity in the Saudi Arabia non-oil private sector ticked up in September, supported by a return to sales growth as the economy started to find its footing after the Covid-19 lockdown," David Owen, an economist at IHS Markit, said. "Despite some businesses continuing to see a drag from ongoing restrictions, most companies saw market conditions improve."
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