The IHS Markit Saudi Arabia PMI dropped to 54.9 in January 2020, the lowest since December 2018, from 56.9 in December. Survey respondents noted that strong competition and more cautious spending patterns among customers had held back new business growth. At the same time, output growth was unchanged from December's 14-month low. In addition, employment grew the least since August last year; while buying levels rose at the slowest rate in 12 months, with stocks of inputs rising the least since August 2019. At the same time, export sales fell slightly, reflecting relatively subdued business conditions in key overseas markets. In terms of inflation, a marginal rise in purchasing prices was offset by subdued wage pressures. Prices charged, meanwhile, increased slightly, amid a greater competition for new work. Looking ahead, sentiment hit its lowest in almost 1-1/2 years.
Manufacturing PMI in Saudi Arabia averaged 56.84 points from 2011 until 2020, reaching an all time high of 61.80 points in September of 2014 and a record low of 51.40 points in April of 2018. 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. source: Markit Economics
Manufacturing PMI in Saudi Arabia is expected to be 56.50 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 56.90 in 12 months time. In the long-term, the Saudi Arabia Non-Oil Private Sector PMI is projected to trend around 56.50 points in 2021, according to our econometric models.