PMI: Saudi Arabia's Non-oil Private Sector Growth Accelerates in June on Domestic Demand

Saudi Arabia's non-oil private sector growth improved in June as increasing domestic demand drove new business growth to a four-month high, leading to a sharp rise in output, the Riyad Bank and S&P Global said Sunday. The seasonally adjusted Riyad Bank Saudi Arabia PMI rose to 53.3 in June from 52.8 in May. The index remained below its long-run trend amid prolonged export challenges and elevated inflationary pressures.