Domestic demand drives fastest private-sector growth in three months

Saudi Arabia’s non-oil private sector recorded its strongest growth in three months during May, according to the latest PMI data. Business activity expanded due to stronger domestic demand, improved supply chains, and increased contract activity.

While export orders remain affected by shipping disruptions and geopolitical concerns, economists believe the Kingdom’s Vision 2030 strategy continues to strengthen economic diversification and reduce dependence on oil revenues.

Source : Reuters.