FINANCIAL NEWS

Saudi’s non-oil private sector grows in Q1 this year

05 Apr 2017

(MENAFN) Saudi Arabia’s non-oil private sector remained in growth at the end of the first quarter of this year, with sharp rates of expansion in new orders and output supporting the whole upturn.

Accordingly, the kingdom’s non-oil economy appears to be holding up well through ongoing reductions in oil production.

Meanwhile, the headline seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index, slipped from Feb 18-month high of 57.0 to 56.4 in March.

Moreover, the latest reading was consistent with a marked improvement in the overall health of the sector, while the PMI average for the first quarter of this year was the highest in one-and-a-half years.

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