Gulf Oil and Gas accountACCOUNT

OPEC Member Countries Economy in September 2013

Source: OPEC 9/28/2013, Location: Middle East

Saudi Arabiaís PMI for August, published as the Saudi British Bank (SABB), signaled ongoing improvement in operating conditions at Saudi Arabiaís non-oil producing private sector firms. The gauge registered 57.5 in August, up from 56.5 in the previous month. Augustís figure is the four-month high of the index. Furthermore, the survey showed a rise in new orders at the fastest pace in four months. Output rose at an accelerated pace in August, and client demand from foreign markets also strengthened. It is worth noting that the monthly index has stayed in expansion territory since its inception.

The United Arab Emiratesí (UAE) PMI maintained its same reading in August, unchanged from July. The gauge posted 54.5 in August, a good indication of the continuing expansion in the countryís non-oil producing private sector. The survey revealed a further rise in output levels to a six-month high. The output rise, as shown by the survey outcomes, is driven by increased business and improved market conditions. As a result, employment levels improved in August to meet higher production requirements. Output prices in the UAE also increased in line with input costs.

Uncertainty over the short-term political climate in North Africa, the Middle East and West Africa is expected to have its toll on the economic growth prospects over the short term. OPEC economies are now forecast to grow this year at a rate of 3.2% instead of Julyís 3.3%, while next yearís forecast is revised down to 4.0% from 4.2%.

Economics/Financial Analysis News in Saudi Arabia >>

Saudi Arabia >>  9/19/2019 - Weatherford International, one of the largest multinational oilfield service companies, has announced the signing of a five-year Corporate Procurement...
United Arab Emirates >>  9/18/2019 - Petrofacís Engineering & Production Services (EPS) division has been awarded a contract to provide managed maintenance services for ADNOCís Al Dhafra ...

United Arab Emirates >>  9/16/2019 - SNC-Lavalin (SNC) announces that it has been awarded a general engineering, project management and technical support services contract from Al Yasat P...
Saudi Arabia >>  9/10/2019 - Subsea 7 S.A. announced the award of a large(1) contract by Saudi Aramco for Marjan Increment Projects - Package 2, offshore Saudi Arabia. ...

United Arab Emirates >>  9/9/2019 - V.Group has signed a contract with ADNOC Logistics & Services (ADNOC L&S), located in Abu Dhabi, UAE, to provide crew management services to 93 offsho...
United Arab Emirates >>  9/9/2019 - Sparrows Group and MRDS have secured two joint drilling equipment contracts in the Middle East with an international drilling contractor and an Origin...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.