Saudi non-oil private sector growth slips to five-month low in July -PMI | ZAWYA MENA Edition:
Growth in Saudi Arabia's non-oil private sector lost momentum and slipped to a five-month low in July partly because of lower growth rates in output and new orders, a monthly survey of companies showed on Monday.
The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) ticked down to 56.6 in July from to 57.4 in June, well above the 50 mark indicating expansion, but at its lowest level since February.
Growth in Saudi Arabia's non-oil private sector was weak last year, hurt by fuel price hikes and the introduction of a 5% value-added tax.
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