Saudi non-oil econmy returns to growth in April, PMI shows

Saudi non-oil econmy returns to growth in April, PMI shows

Saudi Arabia’s purchasing managers’ index rose to 51.5 in April, indicating a modest return to growth in its non-oil economy. The kingdom’s private sector PMI had fallen into negative territory in March.Domestic sales and government largesse are driving the upturn, but activity is still affected by supply chain disruptions and businesses deferring spending. The former meant input costs rose in April at their fastest rate on record, according to …