{"id":6754,"date":"2024-04-03T23:01:21","date_gmt":"2024-04-03T20:01:21","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=6754"},"modified":"2024-04-03T23:01:21","modified_gmt":"2024-04-03T20:01:21","slug":"saudi-arabia-s-non-oil-business-activity-grows-robustly-in-march","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=6754","title":{"rendered":"Saudi Arabia, \u2019s non-oil business activity grows robustly in March"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/saudi-arabia-s-non-oil-business-activity-grows-robustly-in-march.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><strong>Strong demand helped drive non-oil business activity in Saudi Arabia in March<\/strong>, with output accelerating to a six-month high, a survey showed on Wednesday.<\/p>\n<div class=\"cypru-video-ads\" id=\"cypru-2055778956\">\n<div id=\"cypru-1693704239\" data-cypru-trackid=\"478051\" data-cypru-trackbid=\"1\" class=\"cypru-target\">\n<div id=\"gpt-ad-4292757288681-0\">\n<\/div>\n<\/div>\n<\/div>\n<p>The seasonally-adjusted Riyad Bank Saudi Arabia Purchasing Managers\u2019 Index stood at 57.0 in March, slightly lower than 57.2 in February, but well above the 50.0 mark denoting expansion in activity.<br \/>\nThe output sub-index rose to 62.2 in March from 61.5 the previous month, its strongest since September last year, supported by new orders, particularly in the manufacturing sector.<br \/>\n\u201cThe strong performance witnessed across various sectors, coupled with the notable increase in order books and new customers, signifies a resilient market poised for growth,\u201d said Naif Al-Ghaith, chief economist at Riyad Bank.<br \/>\n\u201cThe positive momentum also prompted accelerated purchasing activities and additional hiring, underscoring a buoyant market outlook,\u201d he added.<br \/>\nThe new orders sub-index jumped to 64.0 in March from 62.2 in February, the second consecutive month of acceleration. Foreign sales also improved for the second month in a row but the pace of growth was modest.<br \/>\nGovernment investment is supporting non-oil sectors such as tourism, construction and manufacturing to meet the objectives of Vision 2030, the kingdom\u2019s roadmap to end the economy\u2019s dependence on hydrocarbons.<br \/>\nThe 12-month business outlook brightened in March, especially in the construction, wholesale and retail sectors, the survey said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fact: Strong demand helped drive non-oil business activity in Saudi Arabia in March, with output accelerating to a six-month high.<\/p>\n","protected":false},"author":3,"featured_media":6755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1902,186,1625,3471,3,4893,26,1312,2515,250,3330,415,3767,1823,2753,4078,3331,4894,3045,4895,3138,949,1824,1229,238],"class_list":["post-6754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-bank","tag-business","tag-construction","tag-customers","tag-cyprus","tag-demand","tag-economy","tag-expansion","tag-february","tag-google","tag-google-news","tag-government","tag-growth","tag-increase","tag-investment","tag-manufacturing-sector","tag-news","tag-non-oil-business-activity","tag-objectives","tag-output","tag-performance","tag-saudi-arabia","tag-sectors","tag-survey","tag-tourism"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- This site is 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