#Saudi non-oil private sector keeps up steady growth in March - PMI | Reuters

Saudi non-oil private sector keeps up steady growth in March - PMI | 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.

“The pandemic and associated restrictions continued to trim new business growth, according to respondents, contributing to a more downbeat outlook for business activity over the next 12 months,” said David Owen, economist at survey compiler IHS Markit.