Palm trees and buildings in Saudi Arabia

Saudi Arabia PMI July 2023

Saudi Arabia: Non-oil private business activity remains upbeat in July

The Riyad Bank Non-oil Purchasing Managers’ Index (PMI) fell to 57.7 in July from June’s 59.6. July’s result marked the weakest reading since December 2022, but remained above the long-term average. 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 and new orders continued to expand at quick paces, despite slowing from the past month. In addition, employment continued to grow. Meanwhile, input inflation eased, which in turn caused output prices to fall for the first time in over two years. Finally, business sentiment remained optimistic amid continued support from the government’s diversification policies.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest