Amid brisk economic expansion, business optimism in Saudi Arabia and the United Arab Emirates continues to surpass the long-standing regional norm. These two countries have the largest economies in the Arab world.
The heading for this The Riyad Bank Saudi Arabia Purchasing Managers’ Index hit 58.5, which is somewhat lower than the 59.6 that was recorded in April, but is still considerably over the neutral line of 50, which divides economic expansion from economic recession.
Since August of 2020, the country’s selling prices have increased at the fastest speed, which is indicative of the powerful economic momentum in the kingdom.
In May, the seasonally adjusted level of the S&P Global UAE Purchasing Managers’ Index was 55.5, which is lower than the level of 56.6 that was recorded in April.
As a result, the degree of optimism among company owners hit its highest point since October 2021, which was significantly above the long-running average of 54.2 for the economy.