Arábia Saudita PMI Industrial

Riyad Bank Saudi Arabia's PMI increased for the third consecutive month, reaching 56.9 in October 2024, up from 56.3 in September. This marks the fastest growth in the non-oil private sector since April, driven by a sharp rise in sales, which supported further expansion in business activity, employment, and stock levels. New orders saw their highest level since March, driven by strong domestic demand and effective marketing. Employment also rose for the sixth month in a row, keeping workloads manageable. Meanwhile, purchasing activity increased in October from September's three-year low, though at a slower pace compared to a year earlier, while inventories rose sharply as firms reported sufficient stock levels. On prices, input costs rose due to higher material and wage expenses, leading to the first increase in average prices charged in four months. Finally, business sentiment remained strong, bolstered by economic stability and ongoing infrastructure projects under Vision 2030.