Saudi business confidence holds at 56.6 in September
GASTAT's Business Confidence Index barely moved from August's 56.7, as industry grew more upbeat while services and construction cooled on cost worries.
Confidence among Saudi businesses stayed firmly positive in September. The General Authority for Statistics (GASTAT) put its Business Confidence Index at 56.6, down 0.1 points from 56.7 in August. Any reading above 50 means more firms are optimistic than not, and the index has stayed above 56 since June, up from 52.1 in March.
Industry was the bright spot, rising to 56.3 from 55.8 on stronger expectations for performance and next month's sales. Services slipped to 55.4 from 56.1 and construction to 57.1 from 57.3, with GASTAT pointing to concerns about current and expected input costs. Other surveys point the same way: the Riyad Bank Purchasing Managers' Index rose to 55.3 in September from 53.8.
For households and small businesses, the reading suggests firms still expect demand to hold, but the cost worries in services and construction are worth watching, as they can show up later in prices for repairs, building work and everyday services. GASTAT publishes the index monthly on its website, stats.gov.sa, and the October figure is due next month.