Saudi industrial output slowest in four months
Industrial production in Saudi Arabia experienced a modest decline of 8.1% in July, marking the smallest decrease over the past four months. This was due to a slowdown in the decline of oil-related activities, which fell by 11.4%, and a slight decrease of 0.3% in non-oil activities. The monthly performance was characterized by improvements in certain sectors, such as a 4% rise in chemical manufacturing and a 5.4% increase in electricity, gas, and steam supply activities. The activity in petroleum refining decreased by 13.6%, yet there were also temporary gains in some service activities linked to the industry, reflecting a reduced intensity of pressures on Saudi Arabia's industrial production index in July.
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