Saudi non-oil private sector hits decade-low on coronavirus

Saudi Arabia's non-oil private sector shrank in March at its fastest rate on record as emergency measures to contain the coronavirus outbreak dealt a heavy blow to business, a survey showed on Sunday.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) fell to 42.4 in March - the biggest drop since the survey began in August 2009 - from 52.5 in February.
It was also the first time the headline index has fallen below the 50.0 mark that separates expansion from contraction.
As of April 2, Saudi Arabia had recorded 1,885 infections and 21 deaths, the most in the six-member Gulf Cooperation Council.
To contain the spread of the virus the country has implemented incremental social restriction measures that have led to business closures, declines in new orders and stocks of purchases, and delays in projects.
"The latest survey data were collected between 12-23 March and therefore signal a steep economic downturn even before the tightening of workplace and travel restrictions to contain the COVID-19 pandemic," said Tim Moore, economics director at IHS Markit.
Riyadh suspended all international flights on March 14 and the following day it ordered the closure of malls, restaurants, coffee shops and public parks and gardens, while exempting supermarkets, pharmacies and food delivery.