Saudi Arabia PMI: Employment index contracts in March

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Sun, 2019-04-07 09:38

DUBAI: Saudi Arabia’s non-oil private sector marginally grew in March but its employment index fell below the neutral 50-level for the first time in five years, a monthly survey of companies reported on Sunday.

The seasonally-adjusted Purchasing Managers’ Index rose to 56.8 in March from 56.6 in February, versus a small decline in the employment sub-index to 49.8, Emirates NBD said in the report.

A reading above 50 indicates expansion and below that contraction.