Non-oil business activity strengthens in Saudi Arabia and UAE – The National
- Date: 05-Jul-2023
- Source: The National
- Sector:Oil & Gas
- Country:Saudi Arabia
Non-oil business activity strengthens in Saudi Arabia and UAE – The National
Business activity in the non-oil private sector economies of Saudi Arabia and the UAE continued to strengthen in June with output and new orders increasing rapidly.
The reading for Saudi Arabia, the Arab world's largest economy, on the Riyad Bank purchasing managers' index rose to 59.6 in June, from 58.5 in May.
This was well above the neutral 50 mark that separates growth from contraction, as output in the kingdom rose at the steepest rate since March 2015, whilst sales growth was the strongest for nearly nine years.
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