抖阴短视频

RIYADH: 抖阴短视频鈥檚 small and medium enterprises recorded their strongest employment growth in 10 months during December, fueled by long-term expansion plans and robust domestic demand, according to a new report. 

The Riyad Bank 抖阴短视频 SME Purchasing Managers鈥� Index stood at 56.9 in December, slightly lower than November鈥檚 57.1 but well above the neutral 50 mark, indicating sustained growth in the sector. 

Strengthening the SME segment is a cornerstone of the Kingdom鈥檚 economic diversification strategy under Vision 2030, aimed at reducing dependence on oil revenues. 

Finance Minister Mohammed Al-Jadaan highlighted the sector鈥檚 rapid growth in October, noting that the number of SMEs in 抖阴短视频 had doubled over the past seven years, with 45 percent now led by women entrepreneurs. 

鈥淭he Riyad Bank 抖阴短视频 SME PMI concluded the year on a high note, reflecting a robust performance of the SME sector. The fourth quarter of the year showcased a marked improvement over the third quarter, with the average PMI hitting 56.8, the highest quarterly reading since the end of 2023,鈥� said Naif Al-Ghaith, chief economist at Riyad Bank.  

He added: 鈥淭his upturn in the SME sector is a testament to the thriving economic environment, characterized by increasing output levels and a surge in incoming new work.鈥�  

The report attributed December鈥檚 employment surge to sharp increases in output and incoming new work, supported by stronger business and consumer spending. 

The analysis said that SMEs widely reported strong demand conditions, fueled by increased business and consumer spending, alongside a supportive economic environment. 

S&P Global said job creation rose in December, with staffing levels and growth rates accelerating at their fastest pace since February. 

鈥淭his surge in employment is fueled by long-term business expansion plans and upcoming new projects, reflecting a positive outlook among SMEs,鈥� said Al-Ghaith.  

Despite higher input costs, including salary increases and rising raw material prices, inflation pressures eased slightly in December compared to the previous month. 

Business confidence among SMEs reached its highest level since March, marking three consecutive months of improved expectations. 

He added: 鈥淭his optimistic trajectory aligns with 抖阴短视频鈥檚 Vision 2030.鈥�  鈥淭he strong performance of SMEs, as evidenced by the Riyad Bank 抖阴短视频 SME PMI, underscores the ongoing efforts to bolster economic diversification and support the growth of this sector.鈥�  

He said that SMEs鈥� resilience and expansion are pivotal for achieving Vision 2030鈥檚 goals of creating sustainable employment and promoting inclusive economic growth. 

The positive SME performance aligns with broader economic trends. A separate S&P Global report showed that 抖阴短视频鈥檚 overall PMI for December reached 58.4, signaling robust growth in the non-oil economy. 

鈥淏y fostering a vibrant SME sector, 抖阴短视频 can enhance its economic resilience, create sustainable employment opportunities, and promote inclusive growth, all key components of a diversified and dynamic economy,鈥� concluded Al-Ghaith.  

The employment growth reflects the Kingdom鈥檚 ongoing commitment to transforming its economy into a global hub for innovation, entrepreneurship, and investment.