- Strong demand drove growth in Saudi Arabia's non-oil business sector in December, albeit at a slightly slower pace than the previous month, a survey showed on Sunday.
New orders continued to rise, marking the fifth consecutive month of acceleration, driven by strong domestic demand and a boost in exports. The subindex surged to 65.5 in December from 63.4 the previous month, and the pace of growth was the fastest recorded in 2024. Cost pressures remained a concern, with input prices rising sharply due to strong demand for materials. However, wage inflation eased, helping to mitigate overall cost burdens.
The non-oil GDP is expected to grow by more than 4% in 2024 and 2025, driven by substantial improvements in business conditions, Al-Ghaith added.