Saudi, UAE business conditions improve with cooling in inflation – Arabian Business

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Saudi Arabia
  • Date: 03-Aug-2022
  • Source: Arabian Business
  • Sector: Economy
  • Country: Saudi Arabia
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Saudi, UAE business conditions improve with cooling in inflation – Arabian Business

Business conditions in the United Arab Emirates and Saudi Arabia improved in July as price pressures edged slightly lower and employment expanded.

Input costs in the Arab world’s two largest economies eased marginally after soaring to an 11-year high in June, according to S&P Global. Its Purchasing Managers’ Index for the UAE was at 55.4, up from 54.8 during the previous month and well above the 50-mark separating growth from contraction. The Saudi PMI stood at 56.3 in July, down from 57.

Although price pressures are building, the oil-rich Gulf is among regions where inflation has remained relatively muted, thanks in part to limits on domestic fuel costs in some nations.