Palm trees and buildings in Saudi Arabia

Saudi Arabia PMI February 2024

Saudi Arabia: PMI improves in February

The Riyad Bank Saudi Arabia Composite Purchasing Managers’ Index (PMI) improved to 57.2 in February from its two-year low of 55.4 in January. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in private sector operating conditions compared to the previous month.

This recovery was primarily driven by a sharp increase in business activity, attributed to improved client demand and a boost from tourism. Additionally, new order growth accelerated, contributing to a marked increase in employment, which was among the sharpest in eight years.

On the pricing front, February saw a moderation in input price inflation, marking the slowest rate of increase since the previous July. Selling price inflation also eased, with firms facing a dilemma between passing on higher costs to customers or reducing fees to remain competitive. Lastly, there was sustained optimism for future activity.

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