Riyad Bank Saudi Arabia PMI declined to a three-month low of 56.9 in December 2022 from November’s 14-month high of 58.5 in November. Output grew softer while new orders rose sharply driven by a sharp increase in sales from abroad. Also, input buying increased solidly, amid a rise in employment with the rate of job creation was the fastest recorded in almost five years. Meanwhile, backlogs of work declined for the seventh month in a row, although the rate of reduction was the softest since June. Delivery times on inputs improved only modestly. On the pricing front, input cost continued to rise due to higher import fees, staff costs and material prices. As a result, selling prices rose solidly to a nine-month high, as firms sought to pass through higher costs to customers. Lastly, business sentiment weakened to a seven-month low and remained much softer than the long-run trend. source: Markit Economics

Manufacturing PMI in Saudi Arabia averaged 56.13 points from 2011 until 2022, 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 January of 2023.

Manufacturing PMI in Saudi Arabia is expected to be 54.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia Non-Oil Private Sector PMI is projected to trend around 57.00 points in 2024 and 56.00 points in 2025, according to our econometric models.

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Saudi Arabia Non-Oil Private Sector PMI



Related Last Previous Unit Reference
Manufacturing PMI 56.90 58.50 points Dec 2022

Saudi Arabia Non-Oil Private Sector PMI
In Saudi Arabia, the seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index measures the performance of companies in non-oil private sector and is derived from a survey of 400 companies, including manufacturing, services, construction and retail. The Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the non-oil private sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
Actual Previous Highest Lowest Dates Unit Frequency
56.90 58.50 61.80 42.40 2011 - 2022 points Monthly
SA

News Stream
Saudi Non-Oil Private Sector Growth Weakest in 3 Months
Riyad Bank Saudi Arabia PMI declined to a three-month low of 56.9 in December 2022 from November’s 14-month high of 58.5 in November. Output grew softer while new orders rose sharply driven by a sharp increase in sales from abroad. Also, input buying increased solidly, amid a rise in employment with the rate of job creation was the fastest recorded in almost five years. Meanwhile, backlogs of work declined for the seventh month in a row, although the rate of reduction was the softest since June. Delivery times on inputs improved only modestly. On the pricing front, input cost continued to rise due to higher import fees, staff costs and material prices. As a result, selling prices rose solidly to a nine-month high, as firms sought to pass through higher costs to customers. Lastly, business sentiment weakened to a seven-month low and remained much softer than the long-run trend.
2023-01-03
Saudi Arabia Non-Oil Private PMI Highest in 14 Months
Riyad Bank Saudi Arabia PMI rose to 58.5 in November 2022 from 57.2 in October, above the long-run series average of 56.8. This was the highest reading since September 2021, as output rose the most in seven years, new orders growth accelerated to a 14-month high, and export sales rose the most in seven years. Also, input buying rose at the second-fastest rate since August 2015, amid a slight rise in employment with many companies reportedly keeping staffing unchanged. Meantime, backlogs of work declined for the sixth month in a row. On the pricing front, inflationary pressures picked up due to high material prices, a greater impact of inflationary pressures, and a renewed rise in staff costs. These brought input cost and output prices hit their highest since July. Lastly, business sentiment improved to the highest since January 2021, supported by solid new orders and the government's Vision 2030 Initiative.
2022-12-05
Saudi Arabia Non-Oil Private Sector Growth Stronger
The S&P Global Saudi Arabia PMI rose to its second-strongest reading in a year at 57.2 in October 2022. It was the 26th consecutive month of expansion in the non-oil private sector, as output and new orders signal solid expansions in both activity and sales, supported by improving market conditions and ongoing projects. Also, new export orders increased at the sharpest rate in almost a year. Meanwhile, suppliers delivery time continued to shorten, allowing firms to sharply raise input purchasing activity. Firms also reported a marginal increase in employment which helped lessen backlogs of work. On the price front, output prices rose slightly, while input costs increased the least in 8-months. Only 4% of respondents noted higher expenses since September, as wage costs were broadly stable after seven months of inflation. Generally, output expectations were the strongest since January 2021, with companies expecting operating conditions to stay robust over the next year.
2022-11-03