Arab world’s three largest economies improve as pandemic restrictions ease – The National

Arab world’s three largest economies improve as pandemic restrictions ease – The National

The non-oil private sector in Saudi Arabia, the UAE and Egypt, the Arab world's three largest economies, improved in May as restrictions imposed amid the Covid-19 pandemic began to ease.. The seasonally-adjusted IHS Markit Saudi Arabia Purchasing Managers' Index - a composite gauge designed to give a single-figure snapshot of operating conditions in the non-oil private sector economy - improved to 48.1 in May from 44.4 in April.. The overall decline in output volumes was slower than the survey-record seen in April.. Some firms said that an easing of lockdown measures had helped alleviate pressure on private sector businesses.. The latest data collected in Saudi Arabia between 12-21 May also shows a decline in new order volumes across the private sector economy due to worsening global economic conditions and spending cutbacks.. Saudi Arabia and the UAE are now opening up, as restrictions on peoples' movements are eased.. Public and private sector employees are returning to work in phases, while malls and other private sector businesses have reopened.. On Tuesday, Dubai said all malls and private sector business will operate at 100 per cent capacity.. "Some firms noted that an easing of lockdown measures had helped mitigate the downturn in May,