Saudi output grows sharply leading to drop in order backlogs

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Mon, 2021-04-05 10:27

DUBAI: Saudi Arabia’s non-oil private sector expanded at the end of the first quarter but growth momentum slowed compared to the start of the year.
The IHS Markit Saudi Arabia PMI posted 53.3 in March – down from 53.9 in February. A reading above a neutral 50 still indicates economic expansion.
Businesses in the Kingdom continued to see growth in output and purchasing, the report showed, and the upturn in the performance of the non-oil private sector was relatively solid, it said.

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