Saudi Stocks Slip as July Industrial Output Falls 8.1%

Saudi Arabia's industrial output fell 8.1% in July compared to the same period last year, dragged down by an 11.4% drop in oil activity.

The Tadawul All Share Index slipped 0.08% as investors digested new figures from the General Authority for Statistics.

Despite a 10.4% monthly increase in industrial production, thanks to a 16.3% jump in oil activity, the year-on-year picture remained soft due to an ongoing decline in non-oil output.