Riyadh - Sharikat Mubasher: Saudi Arabia’s Purchasing Managers’ Index (PMI) slipped from 55.3 in September to 54 in October, marking its second-highest reading since February and signaling an improvement in operating conditions in the non-oil economy for the seventh consecutive month.

The latest Riyad Bank Saudi Arabia PMI report said the Saudi non-oil private sector continued to expand in October, supported by a faster rise in business activity and robust demand growth.

Growth in new business eased from September's seven-month high, while growth of job creation and purchasing activity both slowed. Companies attributed higher activity to improving underlying demand, alongside greater sales and marketing efforts.

New orders continued to rise strongly, though growth slowed from September and remained below the series trend. Supply chains remained under pressure, with delivery times improving only modestly, marking the smallest improvement since April.

As for the employment index, non-oil companies expanded their workforce for the fourth straight month, though the rate of job creation was modest and slower than in September.

Naif Al-Ghaith, chief economist at Riyad Bank, said: "The renewed increase in outstanding business, alongside sustained purchasing activity and inventory accumulation, also suggests that companies are maintaining their readiness to accommodate future demand. Looking ahead, business expectations remain positive. Overall, October’s PMI results reinforce the resilience of Saudi Arabia’s non-oil private sector."

The PMI is a weighted average of five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%), and Stocks of Purchases (10%).