Saudi PMI dips to 58.5 points in November

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The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, declined to 58.5 points in November 2025.

Saudi Arabian non-oil private sector businesses experienced another strong improvement in operating conditions in November. Overall activity increased at the sharpest pace in ten months, driven by higher sales, rapid hiring and increased purchases.

While new business growth remained marked, it slowed compared to October, as did the rates of growth in employment and input inventories. Meanwhile, operating expenses increased at the softest rate since March, with firms noting reduced pressure on their purchasing costs.

Businesses commonly highlighted that strong demand conditions and the receipt of new orders contributed to a strengthening of output levels and greater expansion efforts. November data subsequently indicated a substantial rise in non-oil private sector activity, the sharpest since January. Overall, 30% of surveyed firms increased their output compared to the previous month, while only 1% reported a contraction.

The latest survey also pointed to a robust increase in new order inflows in November. Although the rate of expansion slowed across all monitored sub-sectors and was less pronounced than October’s recent peak, it remained among the fastest seen in 2025 to date. Firms frequently cited improved demand conditions, particularly in domestic markets. New orders from international markets rose, but only slightly.