Results from a survey by IHS Markit on Monday showed that the non-oil private sector in Saudi Arabia continued to grow at a steady pace in June. The company's Purchasing Managers' Index remained unchanged at 56.4 in June. Any reading above 50 indicates growth in this sector.
New orders increased at the fastest rate in five months in June, while production declined for the first time since March. Business activity continued to rise in June, and input purchasing was the fastest in 21 months.
The workforce also increased in the same month, and the job creation rate was the highest since November 2019. Business confidence rose to its highest level in five months, amid expectations of easing COVID-19 containment measures.
