AI Summary
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, dropped to 58.1 points in March 2025.
Saudi Arabia’s non-oil private sector saw a strong improvement in business conditions in March, according to the latest PMI data. Although the index fell to a five-month low, it remained above the long-run series average of 56.9 points, signaling continued growth.
Surveyed firms reported solid demand at the end of Q1 2025, highlighted by a notable rise in new orders. Growth continued to slow from January’s peak, the highest in nearly 14 years, but remained positive.
Stronger sales were mainly driven by stepped-up marketing, lower selling prices, and improved economic conditions.
External demand also picked up, though the pace of growth softened. Intensifying competition in the non-oil economy led to a drop in selling prices, the first decline in six months. At the same time, input cost inflation eased to its lowest level in just over four years.
|
Riyad Bank Saudi Arabia PMI since 2023* |
|||
|
Month |
Index (Points) |
Change (Points) |
Change (%) |
|
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% |
|
December |
58.4 |
(0.6) |
(1.0%) |
|
Jan. 2025 |
60.5 |
+2.1 |
+3.6% |
|
February |
58.4 |
(2.1) |
(3.5%) |
|
March |
58.1 |
(0.3) |
(0.5%) |
The PMI is a weighted average of the following five sub-indices:
|
PMI Sub-Indices |
|
|
Sub-index |
Ratio (%) |
|
New orders |
30% |
|
Production |
25% |
|
Employment |
20% |
|
Supplier Delivery Time |
15% |
|
Purchase Inventory |
10% |
|
Total |
100% |
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