Saudi Arabia’s non-oil private sector swung back to growth in April as output and new business rebounded from the Iran war disruption in March, but the related price pressures accelerated sharply and shipping problems continued to weigh, a survey showed, Reuters reports.
The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) rose to 51.5 in April from 48.8 in March. A reading above 50.0 separates growth from contraction.
Domestic demand drove an acceleration in new order growth, but firms reported delays in client spending and investment decisions. The new orders subindex rose to 51.5 in April from March’s 45.2 reading. New export orders fell at the fastest rate since the survey began in August 2009.



























