RIYADH: Saudi Arabia’s non-oil business activity continued to expand at a robust pace in January, driven by output growth, improving market conditions and stronger client activity, an economic tracker showed.
According to the latest Riyad Bank Purchasing Managers’ Index report compiled by S&P Global, the Kingdom’s PMI stood at 56.3 in January, marginally lower than 57.4 recorded in December.
Any PMI reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The latest PMI reading underscores the progress of Saudi Arabia’s Vision 2030 strategy, which aims to reduce reliance on oil by accelerating growth in tourism, manufacturing, logistics and financial services.
Naif Al-Ghaith, chief economist at Riyad Bank, said: “Saudi Arabia’s non-oil private sector continued to expand at the start of 2026, supported by resilient domestic demand and sustained business activity.”
