Growth in Saudi Arabia’s PMI resumes as new business orders increase

Saudi Arabia’s Purchasing Managers’ Index rose to 56.2 points in February, up 3 points from the previous month, according to IHS Markit.

The positive dynamics in the headline index number was driven by growth in new business orders amid rising customer demand and falling COVID-19 case numbers, IHS Markit said in a press release. 

It was the first increase since September last year.

The PMI is a weighted average of the following five indices: new orders (30 percent), output (25 percent), employment (20 percent), suppliers’ delivery times (15 percent) and stocks of purchases (10 percent).