Saudi PMI dips to 53.1 points in July

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, declined slightly to 53.1 points in July 2026.

The index pointed to a fourth consecutive month of expansion in the sector, continuing to signal a strong improvement in business conditions across the non-oil private sector.

Business activity increased sharply in July, with around 19% of companies reporting higher output, compared with just 4% reporting declines. According to the survey reports, growth was supported by an increase in new orders and the continued normalization of market conditions following disruptions caused by the regional conflict. However, the overall increase in new orders slowed from June and was modest compared with historical averages.

Export conditions remained challenging, with international orders declining for a fifth consecutive month due to higher shipping costs and competitive pressures, although the rate of contraction eased to a record low.

Saudi Arabia PMI since 2023*
Month	Index (Points)	Change (Points)	Change (%)
January 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	--	--
January 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%
December	58.4	(0.6)	(1.0%)
January 2025	60.5	+2.1	+3.6%
February	58.4	(2.1)	(3.5%)
March	58.1	(0.3)	(0.5%)
April	55.6	(2.5)	(4.3%)
May	55.8	+0.2	+0.4%
June	57.2	+1.4	+2.5%
July	56.3	(0.9)	(1.6%)
August	56.4	+0.1	(0.2%)
September	57.8	+1.4	+2.5%
October	60.2	+2.4	+4.2%
November	58.5	(1.7)	(2.8%)
December	57.4	(1.1)	(1.9%)
January 2026	56.3	(1.1)	(1.9%)
February	56.1	(0.2)	(0.4%)
March	48.8	(7.3)	(13.0%)
April	51.5	+2.7	+5.5%
May	52.8	+1.3	+2.5%
June	53.3	+0.5	+0.9%
July	53.1	(0.2)	(0.4%)

*Change on a monthly basis.

The PMI is a weighted average of the following five indices:

Riyad Bank PMI Details
Sub-index	Ratio
New Orders	30%
Output	25%
Employment	20%
Suppliers’ Delivery Times	15%
Stocks of Purchases	10%
Total	100%

Economic Reports

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Saudi PMI dips to 53.1 points in July

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