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Saudi Arabia's non-oil business activity grows robustly in March, PMI shows

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Carbon tax protest at Nova Scotia-New Brunswick border | SaltWire #newbrunswick #novascotia #rallyDUBAI - Strong demand helped drive non-oil business activity in Saudi Arabia in March, with output accelerating to a six-month high, a survey showed on Wednesday.

"The strong performance witnessed across various sectors, coupled with the notable increase in order books and new customers, signifies a resilient market poised for growth," said Naif Al-Ghaith, chief economist at Riyad Bank. The new orders sub-index jumped to 64.0 in March from 62.2 in February, the second consecutive month of acceleration. Foreign sales also improved for the second month in a row but the pace of growth was modest.

 

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