Saudi Arabia PMI July 2019

Saudi Arabia

Saudi Arabia: Non-oil PMI softens in July but remains well in positive territory

August 8, 2019

The Purchasing Managers’ Index (PMI), produced by IHS Markit, fell from June’s 57.4 to 56.6 in July and marked the lowest reading since February. Nevertheless, the index remained above the 50-point threshold that indicates expansion in business activity in the non-oil producing private sector.

July’s reading reflected weaker growth in output and new orders, while employment levels rose only marginally. Moreover, businesses’ outlook on future operating conditions continued to worsen in July. On the price front, input price pressures were mild, which coupled with strong competition kept output price pressures muted.

FocusEconomics Consensus Forecast panelists see fixed investment rising 4.8% in 2019, which is up 0.2 percentage points from last month’s estimate. For 2020, the panel expects fixed investment to increase 3.5%.

Author:, Economist

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Saudi Arabia PMI Chart

Saudi Arabia PMI July 2019

Note: Emirates NBD Purchasing Managers’ Index. Readings above 50 indicate an improvement in non-oil private sector conditions while readings below 50 point to a deterioration.
Source: Emirates NBD and IHS Markit.

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