Saudi PMI rises as domestic demand strengthens

Saudi Arabia ka non-oil economy August mein aur accelerate hua. Latest data ke according Saudi Arabia ka PMI six-month high par reach kar gaya, indicating stronger expansion in the Kingdom’s non-oil private sector.

The improvement was supported by stronger business activity and new orders, showing that domestic demand continues to provide resilience even while oil-sector activity faces pressure.

The development is particularly significant for Saudi Vision 2030, which aims to reduce the Kingdom’s dependence on oil and build stronger private-sector industries.

Construction, services, technology, tourism and other non-oil activities are increasingly important contributors to Saudi Arabia’s economic expansion.

Source : Arab News.