Saudi PMI Drops to Six-Year Low in June as Growth Momentum Slows - Bloomberg Business:
"An indicator of growth in Saudi Arabia’s non-oil industries fell in June to the lowest level in six years as the biggest Arab economy loses momentum.
The Emirates NBD Purchasing Managers’ Index dropped to 56.1 from 57 in May, driven by a weak increase in new orders and slower output growth, the Dubai-based bank said in a report released Sunday. The same measure for the United Arab Emirates fell to 54.7 in June, the lowest in 22 months.
Saudi Arabia’s PMI index has dropped in four of the first six months this year as the world’s biggest oil exporter grapples with the plunge in crude prices. The kingdom is also leading a coalition bombing Shiite rebels in Yemen."
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