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Saudi Arabia’s Purchasing Managers’ Index (PMI) added 1.4 points in August to reach 57.7 points – the highest level since October 2021 – compared to 56.3 points in July, S&P Global said in its latest report.
The PMI led up on higher customer numbers, increased output and greater purchasing.
Non-oil businesses registered slowdowns in both input cost and output price inflation during August, reflective of softer pressure on purchasing costs as global commodity prices moderated. That said, fuel costs remained a key challenge for businesses, while staff wages increased for the sixth month running. The overall uptick in input costs was solid, although the least marked since May.
Cost inflationary pressures eased for the second straight month, leading to the softest rise in output charges since February.
The fall in charge inflation was particularly strong in August, as latest data signalled one of the most marked month-on-month slowdowns in the series history. Moreover, the overall rise in selling charges was only slight and the softest since February, as some companies looked to provide extra discounts as cost pressures eased. The manufacturing and wholesale & retail sectors both recorded an outright drop in charges.
|
Saudi Arabia PMI since 2019* |
|||
|
Month |
Index (Points) |
Change (Points) |
Change (%) |
|
January 2019 |
56.2 |
-- |
-- |
|
February |
56.6 |
0.4 |
0.7% |
|
March |
56.8 |
0.2 |
0.4% |
|
April |
56.8 |
-- |
-- |
|
May |
57.3 |
0.5 |
0.9% |
|
June |
57.4 |
0.1 |
0.2% |
|
July |
56.6 |
(0.8) |
(1.4%) |
|
August |
57.0 |
0.4 |
0.7% |
|
September |
57.3 |
0.3 |
0.5% |
|
October |
57.8 |
0.5 |
0.9% |
|
November |
58.3 |
0.5 |
0.9% |
|
December |
56.9 |
(1.4) |
(2.4%) |
|
January 2020 |
54.9 |
(2.0) |
(3.5%) |
|
February |
52.5 |
(2.4) |
(4.4%) |
|
March |
42.4 |
(10.1) |
(19.2%) |
|
April |
44.4 |
2.0 |
4.7% |
|
May |
48.1 |
3.7 |
8.3% |
|
June |
47.7 |
(0.4) |
(0.8%) |
|
July |
50.0 |
2.3 |
4.8% |
|
August |
48.8 |
(1.2) |
(2.4%) |
|
September |
50.7 |
1.9 |
3.9% |
|
October |
51.0 |
0.3 |
0.6% |
|
November |
54.7 |
3.7 |
7.3% |
|
December |
57.0 |
2.3 |
4.2% |
|
January 2021 |
57.1 |
0.1 |
0.2% |
|
February |
53.9 |
(3.2) |
(5.6%) |
|
March |
53.3 |
(0.6) |
(1.1%) |
|
April |
55.2 |
1.9 |
3.6% |
|
May |
56.4 |
1.2 |
2.2% |
|
June |
56.4 |
-- |
-- |
|
July |
55.8 |
(0.6) |
(1.1%) |
|
August |
54.1 |
(1.7) |
(3.0%) |
|
September |
58.6 |
4.5 |
8.3% |
|
October |
57.7 |
(0.9) |
(1.5%) |
|
November |
56.9 |
(0.8) |
(1.4%) |
|
December |
53.9 |
(3.0) |
(5.3%) |
|
January 2022 |
53.2 |
(0.7) |
(1.3%) |
|
February |
56.2 |
+3.0 |
+5.6% |
|
March |
56.8 |
+0.6 |
+1.1% |
|
April |
55.7 |
(1.1) |
(1.9%) |
|
May |
55.7 |
-- |
-- |
|
June |
57.0 |
+1.3 |
+2.3% |
|
July |
56.3 |
(0.7) |
(1.2%) |
|
August |
57.7 |
+1.4 |
+2.5% |
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