Saudi non-oil business activity hits three-month high in April - PMI reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Higher quarterly net profit was derived from higher total operating income and lower total operating expense including impairments , which was partially offset by a rise in other non-operating expense , SNB said.
Net impairments for expected credit losses dropped to 280m riyals at the end of March, from 396m riyals recorded for the same period a year earlier, a sign that businesses in the kingdom are stabilising as the economy continues to recover from the impact of the Covid-19 pandemic.
The IHS Markit Saudi Arabia Purchasing Managers’ Index stood at 53.3 in March, down from 53.9 in February, a slightly softer, but relatively solid upturn in the performance of the non-oil private sector economy. A reading above a neutral 50 level indicates economic expansion and below points to a contraction.
Tuesday, 6 April, 2021 - 11:15 The Saudi production sector continues to recover from the repercussions of the Covid-19 pandemic. (Asharq Al-Awsat) Riyadh - Asharq Al-Awsat
An international index revealed on Monday that the commercial conditions in the non-oil-producing private sector in Saudi Arabia continued to improve at the end of the first quarter of 2021.
According to the index, companies continued to record expansions in production and procurement and stability in the number of employees.
A press release by IHS Markit said that the headline seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) fell from 53.9 in February to 53.3 in March, indicating a slightly softer, but still relatively solid upturn in the performance of the non-oil private sector economy.
By Reuters Staff
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FILE PHOTO: View shows the King Abdullah Financial District, north of Riyadh, Saudi Arabia, March 1, 2017. REUTERS/Faisal Al Nasser
DUBAI (Reuters) - Saudi Arabia’s non-oil private sector grew for the seventh straight month in March, albeit at a slower pace, with output and new orders expanding more moderately than a month earlier, a survey showed on Monday.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) fell slightly to 53.3 in March from 53.9 in February, remaining above the 50 mark that separates expansion from contraction.
The overall index has fallen from a recent peak of 57.1 in January, indicating the recovery from the COVID-19 pandemic has lost some momentum.
Saudi non-oil private sector keeps up steady growth in March – PMI wkzo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wkzo.com Daily Mail and Mail on Sunday newspapers.