The Kingdom of Saudi Arabia's flag
The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, rose to 59 points in November 2024.
The index pointed out that non-oil private sector companies achieved a strong performance last month, as business activity witnessed the largest growth rate since July 2023, thanks to the rapid rise in new orders, purchasing activity, and hiring of employees.
The index recorded an increase for the fourth month in a row, as the reading indicated a significant improvement in operating conditions in non-oil companies. The growth rate was the steepest since mid-2023.
The improvement positively impacted inflation pressures in November, as companies saw the fastest rise in input costs in more than four years. With a surge in order volumes, companies implemented their sharpest price hikes since January.
Business activity rose at its fastest pace in 16 months, which companies closely linked to the accelerated increase in new order inflows compared to October, with reports pointing to improved order rates, rising customer numbers, increased investment spending, and positive customer reactions to marketing campaigns.
|
Saudi Arabia PMI since 2022* |
|||
|
Month |
TASI (Points) |
Change (Points) |
Change (%) |
|
Jan. 2022 |
53.2 |
(0.7) |
(1.3%) |
|
February |
56.2 |
+3.0 |
+5.6% |
|
March |
56.8 |
+0.6 |
+1.1% |
|
April |
55.7 |
(1.1) |
(1.9%) |
|
May |
55.7 |
-- |
-- |
|
June |
57.0 |
+1.3 |
+2.3% |
|
July |
56.3 |
(0.7) |
(1.2%) |
|
August |
57.7 |
+1.4 |
+2.5% |
|
September |
56.6 |
(1.1) |
(1.9%) |
|
October |
57.2 |
+0.6 |
+1.1% |
|
November |
58.5 |
+1.3 |
+2.3% |
|
December |
56.9 |
(1.6) |
(2.7%) |
|
Jan. 2023 |
58.2 |
+1.3 |
+2.3% |
|
February |
59.8 |
+1.6 |
+2.7% |
|
March |
58.7 |
(1.1) |
(1.8%) |
|
April |
59.6 |
+0.9 |
+1.5% |
|
May |
58.5 |
(1.1) |
(1.8%) |
|
June |
59.6 |
+1.1 |
+1.9% |
|
July |
57.7 |
(1.9) |
(3.2%) |
|
August |
56.6 |
(1.1) |
(1.9%) |
|
September |
57.2 |
+0.6 |
+1.1% |
|
October |
58.4 |
+1.2 |
+2.1% |
|
November |
57.5 |
(0.9) |
(1.5%) |
|
December |
57.5 |
-- |
-- |
|
Jan. 2024 |
55.4 |
(2.1) |
(3.7%) |
|
February |
57.2 |
+1.8 |
+3.2% |
|
March |
57.0 |
(0.2) |
(0.3%) |
|
April |
57.0 |
-- |
-- |
|
May |
56.4 |
(0.6) |
(1.1%) |
|
June |
55.0 |
(1.4) |
(2.5%) |
|
July |
54.4 |
(0.6) |
(1.1%) |
|
August |
54.8 |
+0.4 |
+0.7% |
|
September |
56.3 |
+1.5 |
+2.7% |
|
October |
56.9 |
+0.6 |
+1.1% |
|
November |
59.0 |
+2.1 |
+3.7% |
*Change on a monthly basis.
The PMI is a weighted average of the following five indices:
|
Riyad Bank PMI Details |
|
|
Sub-index |
Percentage (%) |
|
New orders |
30% |
|
Production |
25% |
|
Employment |
20% |
|
Suppliers’ delivery times |
15% |
|
Stocks of purchases |
10% |
|
Total |
100% |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}