Saudi business confidence remains upbeat at 55.5 despite October dip

RIYADH: Saudi Arabia’s Business Confidence Index stood at 55.5 in October, remaining firmly in optimistic territory despite a 1.1-point monthly decline, official data showed.

The index, released by the General Authority for Statistics, remained above the 50-point threshold that separates optimism from pessimism, indicating continued confidence among business establishments outside oil-related activities.

The reading followed a recovery from a low of 52.1 in March, when regional geopolitical tensions intensified.

Confidence subsequently improved to 54.5 in April, 55.6 in May and 56.6 in June. It eased to 56.5 in July before rising to 56.7 in August and 56.6 in September.

Business confidence remained in optimistic territory despite regional uncertainty and geopolitical tensions that have affected supply chains and industrial activity in parts of the Middle East.