The business climate in Saudi Arabia is improving at the fastest pace in 3 months … Companies increase the number of their employees


Business conditions in Saudi Arabia improved at the fastest pace in three months, as companies increased the number of their employees for the first time this year 2021.
According to Bloomberg, David Owen, an economist at IHS Market, said, “The PMI in Saudi Arabia has rebounded in April, which indicates strong growth in the non-oil economy.”
Non-oil private sector activity grew for the eighth month in a row, and the purchasing managers’ index in the Kingdom rose in April to the highest level in three months, reaching 55.2 points last month from 53.3 points in March, to remain above the 50 mark separating growth and contraction.
Recent IHS Markit PMI data indicated that accelerating growth in the Saudi private sector boosted employment levels.
“Despite the increase in demand, companies’ expectations have declined from March, as fewer companies expect production growth in the next 12 months. Current concerns among companies include another potential wave of Covid-19, which could exacerbate, ”Owen said. Problems with traveling abroad. “
The report stated that the global shortage of supplies led to an increase in freight charges during April, which has increased the price of oil.


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