The Sila Saudi Consumer Sentiment Index (CSI) saw a strong recovery in October with gains from economy and business indices. Saudi’s business confidence continues to lag behind other markets across the series, bringing the overall sentiment scores down in comparison. While the business and economy indices have leaped forward, the employment confidence of the country has seen a little bit of a downward shift.
As D/A’s managing partner, Paul Kelly states “Saudi Arabia continues to show the consumer confidence in government efforts and employment power – but little confidence in the stimulus of independent business is working against the intent of increasing the private sector. They may have a longer roll-out strategy in store.”