The IHS Markit Saudi Arabia PMI edged up to 57.1 in January 2021 from 57.0 in December, pointing to the highest reading since November 2019, as the economy recovered further from the COVID-19 outbreak. Output expanded at a faster rate and one that was the sharpest in 15 months, new orders continued to grow solidly, and new orders from foreign clients rose the most in almost four years. Also, buying activity quickened to a 13-month high, amid a marked stock building. Meantime, employment fell for the tenth month in 11 months, amid excess capacity as evidenced by another fall in outstanding workloads. Improved capacity at suppliers, meanwhile, supported a reduction in overall delivery times for the first time in a year. As for prices, purchase prices ticked up slightly and staff wages fell for the second month running, with output charges rising marginally. Finally, sentiment remained upbeat, with the degree of optimism was still the second-strongest in a year. source: Markit Economics
Manufacturing PMI in Saudi Arabia averaged 56.14 points from 2011 until 2021, reaching an all time high of 61.80 points in September of 2014 and a record low of 42.40 points in March of 2020. This page provides the latest reported value for - Saudi Arabia Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Saudi Arabia Non-Oil Private Sector PMI - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Manufacturing PMI in Saudi Arabia is expected to be 56.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Saudi Arabia to stand at 58.00 in 12 months time. In the long-term, the Saudi Arabia Non-Oil Private Sector PMI is projected to trend around 57.00 points in 2022, according to our econometric models.