Saudi Arabia's Non-Oil Activity Growth Slows Down

Growth in non-oil business activity in Saudi Arabia has slowed down to the lowest in two and a half years, based on the latest PMI data from the kingdom. The Riyad Bank Saudi Arabia Purchasing Managers' Index reading for June came in at a seasonally adjusted 55, Reuters reported. This was down from 56.4 for May and while a decline, the reading demonstrated a healthy growth rate. “Looking at the second quarter as a whole, the growth figures for Q2 still indicate a positive outlook for non-oil GDP in Saudi Arabia, with expectations of…