KSA, UAE non-oil activity rises in April: report

June 2, 2014 2:05 am

HSBC has said Saudi Arabia’s non-oil activity rose in April at a slightly sharper rate than in March, while the increase in new orders was the quickest since the beginning of the year, Saudi Gazette has reported. New export business also rose in April, but the rate of growth was down from March’s joint-series high, the lender said in its Emerging Markets Index (EMI), a monthly indicator derived from the PMI surveys. April data also signalled a second consecutive record rise in activity in the UAE’s non-oil producing private sector, while both total new order orders and new export orders increased at sharp rates.