Saudi Arabia’s Non-Oil Business Activity Expands in November as PMI Stays Strong

Riyadh, Dec. 3, 2025 (Saudi Arabia Breaking News) – Business activity in Saudi Arabia’s non-oil private sector expanded in November at its fastest pace in 10 months, supported by strong demand and increased hiring, although growth in new orders eased compared to the previous month, a survey showed on Wednesday.

The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) fell to 58.5 in November from 60.2 in October but remained well above the 50-point threshold, indicating solid improvement in business conditions.

Output rose sharply, with the subindex reaching 63.7, the highest level since January. New orders increased for the fourth straight month, though growth slowed from October’s peak. Domestic demand remained strong, while export orders registered marginal growth.

The new orders subindex eased to 64.6 in November, down from 68.1 in October.

Employment growth also moderated after nearing a record high in the previous month but remained firm as companies expanded staffing levels to meet rising demand. Backlogs increased for the fifth consecutive month, marking the longest accumulation since 2019.

Riyad Bank chief economist Naif Al-Ghaith said confidence is supported by expectations of stronger demand, new project pipelines and continued investment activity.

Non-oil companies expressed optimism for future output, with sentiment driven by anticipated demand growth and upcoming projects. The survey pointed to a positive outlook as firms continue to plan business expansion and investment.

Saudi Arabia, the world’s largest oil exporter, is intensifying investment in non-oil sectors as part of its Vision 2030 strategy to reduce reliance on hydrocarbons.