Saudi Arabia: PMI rises in October
The Purchasing Managers Index (PMI), produced by S&P Global, came in at 57.2 in October, up from September’s 56.6. As such, the index moved further above the 50.0 no-change threshold, signaling a stronger improvement in business conditions compared to the previous month.
The increase came as output and new orders continued to rise sharply. Abroad, new export orders were boosted by rising foreign demand and increased at the fastest pace in almost a year. At home, output charges increased only moderately—amid eight-month low input costs—supporting client demand in turn. Meanwhile, employment continued to rise and business sentiment increased to its highest level since January 2021.