The IHS Markit Saudi Arabia PMI increased to 50.7 in September 2020 from 48.8 in August. The latest reading pointed to the first expansion in the sector since February, amid the loosening restriction lockdowns. Both output and new orders rose marginally, while export sales increased for first time since February. Meanwhile, employment declined at the softest pace since March, amid an increase in output requirements and a slower drop in backlogs. On the price front, input costs inflation slowed, as the impact of a rise in VAT eased considerably since August, while output charges rose more slowly, with some companies offering discounts in an effort to clear existing stocks. Looking ahead, business expectations strengthened to a seven-month, due to hopes an increase in output over the coming year. source: Markit Economics
Manufacturing PMI in Saudi Arabia averaged 56.18 points from 2011 until 2020, 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 October of 2020.
Manufacturing PMI in Saudi Arabia is expected to be 50.00 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 55.00 in 12 months time. In the long-term, the Saudi Arabia Non-Oil Private Sector PMI is projected to trend around 56.00 points in 2021 and 57.00 points in 2022, according to our econometric models.