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Saudi Arabia May Business Activity Growth
The non-oil private sector in Saudi Arabia showed a notable improvement in May, with the Purchasing Managers' Index rising to 52.8 points. This reflects an increase in production and better domestic demand, despite ongoing weak external demand and declining exports amid geopolitical tensions and rising shipping costs. Inflationary pressures remained high but at a lower level compared to April, as contracts resumed and activity increased following disruptions in neighboring regions.
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