Saudi Arabia's non-oil business activity rose to 62.2 in March, marking its highest level since September 2021, driven by strong demand and new orders.

Saudi Arabia's non-oil business activity grew robustly in March, with the output index rising to 62.2 from 61.5 in February, marking its highest level since September last year. The Riyad Bank Saudi Arabia Purchasing Managers' Index (PMI) stood at 57.0 in March, slightly lower than 57.2 in February, but well above the 50.0 mark denoting expansion in activity. This growth was driven by strong demand and a sharp rise in new orders, contributing to output growth and economic momentum in the region.

April 03, 2024
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