Saudi Arabia’s Purchasing Managers’ Index (PMI) rose in October to reach 57.2 points, S&P Global said in its latest report.
The index reflected strong improvement in non-oil private sector, as robust demand and increased new business flows led to a sharp rise in business activity.
According to the report, economic conditions improved and inflationary pressures declined, which led to painting a rosy outlook for future production since the beginning of 2021.
Accordingly, business conditions will likely remain strong in 2023.
The sales growth was buoyed by an increase in demand from foreign markets in October, as new export orders hit their highest level in a year.
|
Saudi Arabia PMI since 2019* |
|||
|
Month |
Index (Points) |
Change (Points) |
Change (%) |
|
January 2019 |
56.2 |
-- |
-- |
|
February |
56.6 |
0.4 |
0.7% |
|
March |
56.8 |
0.2 |
0.4% |
|
April |
56.8 |
-- |
-- |
|
May |
57.3 |
0.5 |
0.9% |
|
June |
57.4 |
0.1 |
0.2% |
|
July |
56.6 |
(0.8) |
(1.4%) |
|
August |
57.0 |
0.4 |
0.7% |
|
September |
57.3 |
0.3 |
0.5% |
|
October |
57.8 |
0.5 |
0.9% |
|
November |
58.3 |
0.5 |
0.9% |
|
December |
56.9 |
(1.4) |
(2.4%) |
|
January 2020 |
54.9 |
(2.0) |
(3.5%) |
|
February |
52.5 |
(2.4) |
(4.4%) |
|
March |
42.4 |
(10.1) |
(19.2%) |
|
April |
44.4 |
2.0 |
4.7% |
|
May |
48.1 |
3.7 |
8.3% |
|
June |
47.7 |
(0.4) |
(0.8%) |
|
July |
50.0 |
2.3 |
4.8% |
|
August |
48.8 |
(1.2) |
(2.4%) |
|
September |
50.7 |
1.9 |
3.9% |
|
October |
51.0 |
0.3 |
0.6% |
|
November |
54.7 |
3.7 |
7.3% |
|
December |
57.0 |
2.3 |
4.2% |
|
January 2021 |
57.1 |
0.1 |
0.2% |
|
February |
53.9 |
(3.2) |
(5.6%) |
|
March |
53.3 |
(0.6) |
(1.1%) |
|
April |
55.2 |
1.9 |
3.6% |
|
May |
56.4 |
1.2 |
2.2% |
|
June |
56.4 |
-- |
-- |
|
July |
55.8 |
(0.6) |
(1.1%) |
|
August |
54.1 |
(1.7) |
(3.0%) |
|
September |
58.6 |
4.5 |
8.3% |
|
October |
57.7 |
(0.9) |
(1.5%) |
|
November |
56.9 |
(0.8) |
(1.4%) |
|
December |
53.9 |
(3.0) |
(5.3%) |
|
January 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% |
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