5 Hrs
Source:
الاقتصادية
Saudi non-oil growth speeds up in August
The non-oil private sector in Saudi Arabia experienced its fastest growth in six months during August 2026, supported by increased production and improved market conditions. The Purchasing Managers' Index (PMI) rose to 53.8 points from 53.1 in July, though it remains below the long-term average of 56.8 points. The report indicated that domestic demand continues to be the main driver of growth, with a strong recovery in production and expanded employment for the second consecutive month, despite ongoing declines in exports due to conflicts and foreign competition. Additionally, companies recorded the fastest increase in raw material purchases since February, accompanied by easing inflation pressures, although costs related to personnel and production prices continued to rise. Experts affirmed that improved business confidence and a recovery in operating conditions support expectations of sustained non-oil sector growth throughout the rest of 2026, with ongoing national initiatives such as Vision 2030 continuing to underpin this expansion.
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