Saudi non-oil business activity hits three-month high in April - PMI
SECTIONS
Last Updated: May 04, 2021, 10:53 AM IST
Share
Synopsis The Saudi Arabia PMI rebounded in April to indicate a strengthening of growth across the non-oil economy. New orders picked up at the quickest rate for three months as business conditions continued to recover from COVID-19, said David Owen, Economist at IHS Markit.
Reuters
The Saudi economy was hit hard last year amid the twin shock of the coronavirus crisis and lower oil prices.
Business activity in Saudi Arabia s non-oil private sector hit a three-month high in April and employment grew for the first time in five months, a survey showed on Tuesday, as the kingdom shows signs of recovering from the coronavirus pandemic.
Dubai private sector adds more jobs
Waheed Abbas/Dubai
AFP
Non-oil private sector’s 12-month outlook exudes cautious optimism, says IHS Market survey report
Non-oil private sector business conditions in Dubai continued to strengthen for the third consecutive month in February, as output and employment numbers rose amid growing confidence among firms for a strong economic recovery in the current financial year (FY) 2021, according to the latest Purchasing Managers’ Index (PMI) data released on Tuesday.
The PMI, which is derived from individual diffusion indices which measure changes in output, new orders, employment, suppliers’ delivery timeline and stocks of purchased goods, stood at 50.9 in February, a marginal improvement from 50.6 in January.