Saudi Arabia Macroeconomic Developments
- Saudi Arabia’s private sector non-oil growth remained steady in May, with the Kingdom’s Purchasing Managers’ Index reaching 56.4 points, a slight decline from 57 points in April.
- Saudi Arabia’s point-of-sale (POS) spending reached SAR15.22 billion ($4.05 billion) from May 26 to June 1. According to SAMA, spending on food and beverages, which accounts for the largest share at 15.7 percent, saw a 43.8 percent surge, reaching SAR2.40 billion ($640 million).
- The total number of Saudi nationals working in the private sector during May reached 2,358,227, with 1,386,904 males and 971,323 females. In contrast, the number of non-Saudi workers totaled 9,012,569, with 8,641,249 males and 371,320 females. Net growth in Saudi jobs for May rose with 30,881 Saudis joining the private sector for the first time.
