Saudi Arabia's Non-Oil Sector Growth Slows as PMI Falls in December
Saudi Arabia's non-oil private sector saw its growth rate slow for the second consecutive month in December, with the PMI dropping to 57.4. Despite remaining above the expansion threshold, the deceleration signals a shift to moderation in the sector.
Insights:
Saudi Arabia's non-oil private business sector experienced a slowdown in growth momentum in December, as indicated by the Purchasing Managers Index (PMI), which fell to 57.4 from November's 58.5. This marks the second consecutive month of deceleration and represents the slowest expansion in four months. Despite this cooling trend, the PMI remains above the 50-point threshold, indicating continued growth in the sector.
