RIYADH: Non-oil private sector activity strengthened across Kuwait and Egypt in November as firms reported faster growth in new orders and improved business sentiment.
According to S&P Global, Kuwait’s Purchasing Managers’ Index rose to 53.4 from 52.8 in October, marking a four-month high and signaling a solid improvement in business conditions.
The expansion was driven by the strongest increase in new orders since June, supported by aggressive marketing and competitive pricing.
In a separate report, S&P Global said Egypt’s non-oil sector strongly rebounded in November, with the country’s PMI rising to 51.1 from 49.2 in the previous month — marking the first improvement in operating conditions since February.
Any PMI reading above 50 signals expansion in non-oil business activity, while readings below 50 indicate contraction.
