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Arab non-oil sectors strengthen as Saudi speeds up and Egypt nears growth
In recent months, there has been a significant improvement in the performance of the non-oil private sector in the region. Saudi Arabia experienced its fastest growth in six months, with the Purchasing Managers' Index (PMI) rising to 53.8 in August, supported by accelerated production and increased new orders, despite a decline in external demand. Egypt also showed a slowdown in the pace of contraction, with the index rising to 49.6 points and approaching the expansion territory, helped by increased employment and improved confidence, despite a decrease in purchasing activity. Meanwhile, the UAE recorded its strongest growth since December 2024, with the index rising to 55.3, the highest levels of production, new orders, and exports in over two years, alongside a decrease in production cost inflation and improved supply conditions.
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