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Saudi Arabia PMI December 2023

Saudi Arabia: Non-oil PMI steady in December

The Riyad Bank non-oil Purchasing Managers’ Index (PMI) came in at 57.5 in December, matching November’s reading. As a result, the index remained entrenched above the 50.0 no-change threshold, signaling a softer, albeit still strong, improvement in non-oil private-sector operating conditions from the previous month.

Output growth was unchanged from the prior month, while new orders growth accelerated. Less positively, employment growth and business sentiment deteriorated. Finally, output prices rose for the second month, and input prices increased at a slower pace.

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