The expansion in Saudi Arabia’s non-oil private sector activity quickened in May, driven by accelerated growth in new orders, while business confidence also strengthened, a survey showed on Tuesday.
The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) rose to 55.8 in May from 55.6 in April, firmly in growth territory even though it remains below the peak of 60.5 seen at the beginning of the year.
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