The IHS Markit Saudi Arabia PMI increased to 57.0 in December 2020 from 54.7 in November. The latest reading pointed to the fourth straight month of expansion in the sector, and the highest reading since November last year, amid the loosening restriction lockdowns. Output expanded at the fastest pace since November 2019 while new orders grew to the quickest in 12 months. Sales growth was largely driven by domestic orders, as export demand rose only modestly. Meanwhile, employment declined, albeit only slightly overall. On the price front, input prices were unchanged, ending a five-month sequence of inflation. As a result, output charges ticked up at a slower pace than that seen in November. Looking ahead, business expectations improved to the highest seen throughout 2020 due to hopes the global roll-out of COVID-19 vaccines and hopes that this will lead to a strong recovery in economic activity. source: Markit Economics
Manufacturing PMI in Saudi Arabia averaged 56.13 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 January of 2021.
Manufacturing PMI in Saudi Arabia is expected to be 53.00 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 56.00 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.