Arab News

RIYADH: Saudi Arabia’s non-oil sector witnessed the fastest sales growth since July 2023, as the Kingdom’s Purchasing Managers’ Index hit 57.5 in December, an economy tracker showed.

The Riyad Bank Saudi Arabia PMI report, compiled by S&P Global, revealed that while the economic indicator remained unchanged from November, it slightly dipped from October’s 58.4. 

S&P Global noted the November index continued to significantly exceed the neutral threshold of 50, indicating a substantial improvement in the non-oil private sector. 

“Saudi Arabia’s non-oil PMI for December reached an impressive 57.5 driven by a faster increase in new orders, particularly within the manufacturing sector,” Naif Al-Ghaith, chief economist at Riyad Bank, commented in the report.