India, Feb. 4 -- Saudi Arabia's non-oil private sector expanded at the quickest pace in over a decade in January, led by a substantial increase in new orders, survey results from S&P Global showed on Tuesday.
The Riyad Bank Purchasing Managers' Index rose to 60.5 in January from 58.4 in December. A reading above 50 indicates expansion in the sector.
New orders grew at the sharpest pace in just over 13-and-a-half years as accommodative economic conditions supported a strong boost to customer orders, whilst some firms benefitted from new infrastructure projects.
Rising foreign demand was also a major factor for the jump in new orders, and the growth in new export orders was the strongest in 18 months.
Favorable demand conditions helped th...