Latest economic data from Jadwa Investment’s March 2019 economic chartbook shows more positive signs for the Saudi economy.
Economic data reviewed by Jadwa for the month of January showed improvements for the economy, including a 32 percent rise in POS transactions, and a rise in non-oil PMI to its highest level since December 2017, the Riyadh-based bank said.
In addition, latest available data shows non-oil exports rose in December by 12 percent year-on-year.
On inflation, prices began the year “declining in January by 1.9 percent year-on-year, and by 0.3 percent month-on-month, continuing the downward trend seen in Q4 2018. ‘Housing and utilities’ decreased by 7.6 percent, year-on-year, as did ‘rentals for housing’ data.
However, a stock market decline in February contributed to lower sectoral performance across the board, the report found.