Saudi Economy Shows Signs of Growth with Operating Revenues Index Up 4.9% in July

Saudi Arabia's economy is showing signs of growth, according to recent data from GASTAT. The country's Operating Revenues Index rose 4.9 percent in July compared to the same month last year, with manufacturing and financial services contributing significantly to this increase.

The index also increased by 1.2 percent from June. Within the manufacturing sector, revenues climbed 13.5 percent from a year earlier, while financial and insurance activities rose 9 percent. Information and communication increased 6.5 percent, with wholesale and retail trade and repair of motor vehicles and motorcycles activities growing 0.8 percent.

The data come as Saudi Arabia's non-oil private sector continues to expand. The Riyad Bank Purchasing Managers' Index, compiled by S&P Global, rose to 53.8 in August from 53.1 in July, marking a six-month high.