Palm trees and buildings in Saudi Arabia

Saudi Arabia PMI October 2023

Saudi Arabia: Non-oil business activity picks up in October

The Riyad Bank non-oil Purchasing Managers’ Index (PMI) rose to 58.4 in October from September’s 57.2. Consequently, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in non-oil private-sector operating conditions compared to the previous month.

Firms hired workers at the fastest pace in nine years in October, pushing up the non-oil PMI in the process. This hiring came as output and new orders continued to strengthen, the latter the most since June. Demand may have been supported by firms cutting their output charges in the month, with reports suggesting that intense competition was reducing market share. Looking ahead, businesses remained optimistic about output a year ahead on the back of juicy demand prospects ahead.

Firms hired workers at the fastest pace in nine years in October, pushing up the non-oil PMI in the process. This hiring came as output and new orders continued to strengthen, the latter the most since June. Demand may have been supported by firms cutting their output charges in the month, with reports suggesting that intense competition was reducing market share. Looking ahead, businesses remained optimistic about output a year ahead on the back of juicy demand prospects ahead.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen