The Kingdom of Saudi Arabia’s flag
Saudi Arabia’s non-oil business confidence index increased by 2.1% month-on-month (MoM) in May 2026, according to data from the General Authority for Statistics (GASTAT). 
The index reached 55.6 points in May, up by 1.1 points from 54.5 points in April 2026, reflecting continued optimism in the business sector, supported by confidence in the stability of the Kingdom’s economic activity and continued growth across various industries.
GASTAT defines the business confidence index as a measure of optimism and pessimism about future developments in the non-oil sector, based on surveys covering output, inputs, employment, as well as business development and expansion activities.
Non-Oil Business Confidence Index
Period
Index (Points)
Change MoM
Jan. 2025
64.8
+3.7%
February
63.2
(2.5%)
March
61.8
(2.1%)
April
62.7
+1.5%
May
62.5
(0.3%)
June
61.5
(1.7%)
July
61.1
(0.6%)
August
60.8
(0.4%)
September
61.7
+1.5%
October
61.1
(1.1%)
November
60.7
(0.6%)
December
62.0
+2.2%
January 2026
61.6
(0.6%)
February
60.7
(1.5%)
March
52.1
(14.2%)
April
54.5
+4.6%
May
55.6
+2.1%
Non-oil business confidence index in the industrial sector rose by 1.4% MoM to 54.3 points in May, the services sector increased by 1.2% MoM to 54.6 points, and the construction sector recorded an increase of 1.8% MoM to 56.7 points.
The growth across sectors was driven by increased business optimism, particularly regarding expectations for overall performance, sales, and purchase orders.
Non-Oil Business Confidence Index Based on Economic Activities
Sector
April, 2026
May 2026
Change
Industry
53.5
54.3
+1.4%
Services
53.9
54.6
+1.2%
Construction
55.7
56.7
+1.8%
Headline Non-Oil Business
54.5
55.6
+2.1%
The Kingdom of Saudi Arabia’s flag
Saudi Arabia’s non-oil business confidence index increased by 2.1% month-on-month (MoM) in May 2026, according to data from the General Authority for Statistics (GASTAT).
The index reached 55.6 points in May, up by 1.1 points from 54.5 points in April 2026, reflecting continued optimism in the business sector, supported by confidence in the stability of the Kingdom’s economic activity and continued growth across various industries.
GASTAT defines the business confidence index as a measure of optimism and pessimism about future developments in the non-oil sector, based on surveys covering output, inputs, employment, as well as business development and expansion activities.
Non-Oil Business Confidence Index
Period
Index (Points)
Change MoM
Jan. 2025
64.8
+3.7%
February
63.2
(2.5%)
March
61.8
(2.1%)
April
62.7
+1.5%
May
62.5
(0.3%)
June
61.5
(1.7%)
July
61.1
(0.6%)
August
60.8
(0.4%)
September
61.7
+1.5%
October
61.1
(1.1%)
November
60.7
(0.6%)
December
62.0
+2.2%
January 2026
61.6
(0.6%)
February
60.7
(1.5%)
March
52.1
(14.2%)
April
54.5
+4.6%
May
55.6
+2.1%
Non-oil business confidence index in the industrial sector rose by 1.4% MoM to 54.3 points in May, the services sector increased by 1.2% MoM to 54.6 points, and the construction sector recorded an increase of 1.8% MoM to 56.7 points.
The growth across sectors was driven by increased business optimism, particularly regarding expectations for overall performance, sales, and purchase orders.
Non-Oil Business Confidence Index Based on Economic Activities
Sector
April, 2026
May 2026
Change
Industry
53.5
54.3
+1.4%
Services
53.9
54.6
+1.2%
Construction
55.7
56.7
+1.8%
Headline Non-Oil Business
54.5
55.6
+2.1%
