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Saudi Non-Oil Sector Soars: PMI Hits 58.4 in December

1/6/2025

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Summary

Story summary

Saudi Arabia's non-oil private sector thrived in December 2024, achieving a PMI of 58.4, signaling strong expansion.
Growth stems from increased domestic demand and a rise in exports, supporting Vision 2030's diversification efforts.
New orders surged at the fastest rate in a year, with optimism for future growth at a nine-month peak.
Easing wage inflation allowed businesses to effectively manage rising input costs.

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Story summary

Saudi Arabia's non-oil private sector thrived in December 2024, achieving a PMI of 58.4, signaling strong expansion.
Growth stems from increased domestic demand and a rise in exports, supporting Vision 2030's diversification efforts.
New orders surged at the fastest rate in a year, with optimism for future growth at a nine-month peak.
Easing wage inflation allowed businesses to effectively manage rising input costs.