Saudi marketUpdated November 5
Saudi construction expanded for a sixth month, led by infrastructure.
Saudi construction activity continued to expand in October for a sixth consecutive month, with infrastructure projects leading and residential construction slowing, Asharq Business with Bloomberg reported. The seasonally adjusted headline reading of the alrajhi capital Saudi Construction Index was 52.3, down from 54.4 in September but above the 50 mark that separates expansion from no change. The reading indicates continued growth at its slowest pace since May. The index is based on a monthly survey of 200 construction companies and measures reported activity, not GDP or the broader economy. Infrastructure activity strengthened, with its reading rising to 64.3 from 55.8. Residential activity edged up to 50.4, its slowest growth since the expansion began in May. Non-residential structures registered a marginal decline, the first since the survey began in January.
Coverage started November 5