Saudi Arabia's non-oil private sector saw a strong expansion in May, according to Riyad Bank's Purchasing Managers' Index.
The survey showed that growth in non-oil business activity in Saudi Arabia eased in May as new orders rose at the slowest pace in 25 months, while overall figures still point to strong demand for non-oil sectors. The index fell seasonally to 56.4 in May, from 57 in the previous month, the second lowest reading in 22 months. However, overall figures still point to strong demand for non-oil sectors that are a top priority as the kingdom reduces dependence on oil, accelerates policies to increase investment in tourism and construction, and expand the private sector.
Source (Al-Arabiya.net Website, Edited)
