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.