The Kingdom of Saudi Arabia’s flag
The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly SP Global Saudi Arabia PMI, declined slightly to 53.1 points in July 2026.
The index pointed to a fourth consecutive month of expansion in the sector, continuing to signal a strong improvement in business conditions across the non-oil private sector.
Business activity increased sharply in July, with around 19% of companies reporting higher output, compared with just 4% reporting declines. According to the survey reports, growth was supported by an increase in new orders and the continued normalization of market conditions following disruptions caused by the regional conflict. However, the overall increase in new orders slowed from June and was modest compared with historical averages.
Export conditions remained challenging, with international orders declining for a fifth consecutive month due to higher shipping costs and competitive pressures, although the rate of contraction eased to a record low.
Saudi Arabia PMI since 2023*
Month
Index (Points)
Change (Points)
Change (%)
January 2023
58.2
+1.3
+2.3%
February
59.8
+1.6
+2.7%
March
58.7
(1.1)
(1.8%)
April
59.6
+0.9
+1.5%
May
58.5
(1.1)
(1.8%)
June
59.6
+1.1
+1.9%
July
57.7
(1.9)
(3.2%)
August
56.6
(1.1)
(1.9%)
September
57.2
+0.6
+1.1%
October
58.4
+1.2
+2.1%
November
57.5
(0.9)
(1.5%)
December
57.5
—
—
January 2024
55.4
(2.1)
(3.7%)
February
57.2
+1.8
+3.2%
March
57.0
(0.2)
(0.3%)
April
57.0
—
—
May
56.4
(0.6)
(1.1%)
June
55.0
(1.4)
(2.5%)
July
54.4
(0.6)
(1.1%)
August
54.8
+0.4
+0.7%
September
56.3
+1.5
+2.7%
October
56.9
+0.6
+1.1%
November
59.0
+ 2.1
+3.7%
December
58.4
(0.6)
(1.0%)
January 2025
60.5
+2.1
+3.6%
February
58.4
(2.1)
(3.5%)
March
58.1
(0.3)
(0.5%)
April
55.6
(2.5)
(4.3%)
May
55.8
+0.2
+0.4%
June
57.2
+1.4
+2.5%
July
56.3
(0.9)
(1.6%)
August
56.4
+0.1
(0.2%)
September
57.8
+1.4
+2.5%
October
60.2
+2.4
+4.2%
November
58.5
(1.7)
(2.8%)
December
57.4
(1.1)
(1.9%)
January 2026
56.3
(1.1)
(1.9%)
February
56.1
(0.2)
(0.4%)
March
48.8
(7.3)
(13.0%)
April
51.5
+2.7
+5.5%
May
52.8
+1.3
+2.5%
June
53.3
+0.5
+0.9%
July
53.1
(0.2)
(0.4%)
*Change on a monthly basis.
The PMI is a weighted average of the following five indices:
Riyad Bank PMI Details
Sub-index
Ratio
New Orders
30%
Output
25%
Employment
20%
Suppliers’ Delivery Times
15%
Stocks of Purchases
10%
Total
100%
The Kingdom of Saudi Arabia’s flag
The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly SP Global Saudi Arabia PMI, declined slightly to 53.1 points in July 2026.
The index pointed to a fourth consecutive month of expansion in the sector, continuing to signal a strong improvement in business conditions across the non-oil private sector.
Business activity increased sharply in July, with around 19% of companies reporting higher output, compared with just 4% reporting declines. According to the survey reports, growth was supported by an increase in new orders and the continued normalization of market conditions following disruptions caused by the regional conflict. However, the overall increase in new orders slowed from June and was modest compared with historical averages.
Export conditions remained challenging, with international orders declining for a fifth consecutive month due to higher shipping costs and competitive pressures, although the rate of contraction eased to a record low.
Saudi Arabia PMI since 2023*
Month
Index (Points)
Change (Points)
Change (%)
January 2023
58.2
+1.3
+2.3%
February
59.8
+1.6
+2.7%
March
58.7
(1.1)
(1.8%)
April
59.6
+0.9
+1.5%
May
58.5
(1.1)
(1.8%)
June
59.6
+1.1
+1.9%
July
57.7
(1.9)
(3.2%)
August
56.6
(1.1)
(1.9%)
September
57.2
+0.6
+1.1%
October
58.4
+1.2
+2.1%
November
57.5
(0.9)
(1.5%)
December
57.5
—
—
January 2024
55.4
(2.1)
(3.7%)
February
57.2
+1.8
+3.2%
March
57.0
(0.2)
(0.3%)
April
57.0
—
—
May
56.4
(0.6)
(1.1%)
June
55.0
(1.4)
(2.5%)
July
54.4
(0.6)
(1.1%)
August
54.8
+0.4
+0.7%
September
56.3
+1.5
+2.7%
October
56.9
+0.6
+1.1%
November
59.0
+ 2.1
+3.7%
December
58.4
(0.6)
(1.0%)
January 2025
60.5
+2.1
+3.6%
February
58.4
(2.1)
(3.5%)
March
58.1
(0.3)
(0.5%)
April
55.6
(2.5)
(4.3%)
May
55.8
+0.2
+0.4%
June
57.2
+1.4
+2.5%
July
56.3
(0.9)
(1.6%)
August
56.4
+0.1
(0.2%)
September
57.8
+1.4
+2.5%
October
60.2
+2.4
+4.2%
November
58.5
(1.7)
(2.8%)
December
57.4
(1.1)
(1.9%)
January 2026
56.3
(1.1)
(1.9%)
February
56.1
(0.2)
(0.4%)
March
48.8
(7.3)
(13.0%)
April
51.5
+2.7
+5.5%
May
52.8
+1.3
+2.5%
June
53.3
+0.5
+0.9%
July
53.1
(0.2)
(0.4%)
*Change on a monthly basis.
The PMI is a weighted average of the following five indices:
Riyad Bank PMI Details
Sub-index
Ratio
New Orders
30%
Output
25%
Employment
20%
Suppliers’ Delivery Times
15%
Stocks of Purchases
10%
Total
100%
