Saudi Arabia: Non-oil private sector records the fastest growth

Saudi Arabia’s non-oil private sector continued to record strong business activity in March, witnessing the fastest growth in over four years, triggered by stronger improvements in purchasing and supplier delivery times, according to the latest data released by S&P Global.

The seasonally adjusted S&P Global Saudi Arabia Purchasing Managers’ Index posted at 56.8 in March, rising from 56.2 in February, with the Output Index recording the highest growth since Dec. 2017, signaling a sharp improvement in the business condition and new orders.

The report noted that businesses picked up as the impact of the pandemic on the economy receded, leading to an increase in new clients and export orders, for the first time in three months.

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