Construction and Tourism Indicators Support Non-Oil Sector in Saudi Arabia

A survey released today, Wednesday, indicated an increase in non-oil business activity in Saudi Arabia in June, supported by strong construction and tourism activities. The Riyadh Bank Purchasing Managers' Index (PMI) for Saudi Arabia, seasonally adjusted, rose from 58.5 in May to 59.6 in June, significantly above the neutral level of fifty that separates growth from contraction. The sub-index for production surged from 61.7 to 66.1 in May, recording the fastest growth rate since March 2015.