RIYADH: Saudi Arabian non-oil business activity expanded at its fastest rate since December 2017, as new business and export orders increased, according to a survey released on Thursday. The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) rose for the second month in a row, from 55.2 in April to 56.4 in May. A score above 50 indicates expansion,
Wednesday, 5 May, 2021 - 09:45
Buildings are seen in Riyadh, Saudi Arabia, December 18, 2017. REUTERS/Faisal Al Nasser Riyadh - Asharq Al-Awsat
Business activity in Saudi Arabia s non-oil private sector hit a three-month high in April and employment rates hit a five-month high, a survey revealed on Tuesday, as the Kingdom shows signs of recovering from the coronavirus pandemic.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers Index (PMI) rose to 55.2 in April from 53.3 in March, remaining above the 50 mark that separates expansion from contraction for the eighth straight month. 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.
Saudi non-oil business activity hits three-month high in April - PMI
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Last Updated: May 04, 2021, 10:53 AM IST
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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.
Saudi non-oil business hits three-month high in April
A Royal Saudi Air Force F-15 military fighter jet displays a Vision 2030 logo on its tail fin at the Saudi Air Show at Al Thumamah airport in Riyadh, Saudi Arabia, on Tuesday, March 12, 2019 [Ryan Olson/Bloomberg via Getty Images] May 4, 2021 at 3:36 pm
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,
Reuters has reported. The figures were released in a survey on Tuesday as the Kingdom prepares its Vision 2030 plan to diversify the economy.
According to American-British information provider IHS Markit, the Saudi Arabia Purchasing Managers Index (PMI) rose to 55.2 in April, up from 53.3 in March.
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Business activity in the non-oil private sector of the Arab world’s two biggest economies continued to grow in April as new orders climbed amid a rollout of Covid-19 inoculation programmes.
The IHS Markit Saudi Arabia Purchasing Managers’ Index rose to 55.2 in April, up from 53.3 in March, indicating a marked improvement in the kingdom’s non-oil economy. A reading above a neutral 50 level indicates economic expansion and below points to contraction.
Business activity rose at the sharpest rate for three months in April as new sales climbed significantly. The kingdom has now recorded growth in each month since September 2020.