Kingdom PMI hits six-month high
The non-oil business sector in the Kingdom experienced its fastest growth rate in six months during August, supported by accelerated production and a recovery in market activity. The Purchasing Managers' Index (PMI) rose to 53.8 points compared to 53.1 in July, signaling an economy moving towards recovery despite a decline in export orders and ongoing excess production capacity. Confidence in the sector also improved, with expectations of increased activity in the coming months, although cost pressures persist and the decline in export orders remains slow due to regional tensions.
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