The IHS Markit Saudi Arabia PMI dropped to 47.7 in June 2020 from 48.1 in May. This was the fourth straight month of contraction in the non-oil private sector, amid the coronavirus pandemic. The latest survey data were collected between 12-22 June, reflecting faster declines in employment, business activity and new work. The rate of decline in staffing numbers accelerated since May and was the fastest since the survey began in August 2009, while total new work fell for the fourth month in a row. Exports decreased again, mainly linked to logistical challenges amid international travel restrictions. On the price front, both input and output costs declined further. Looking ahead, business expectations turned negative for the first time since the series began in July 2012, although the degree of pessimism was only marginal, due to rising economic uncertainty and highly subdued demand.
Manufacturing PMI in Saudi Arabia averaged 56.37 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 July of 2020. source: Markit Economics
Manufacturing PMI in Saudi Arabia is expected to be 51.00 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 54.00 points in 2021 and 56.50 points in 2022, according to our econometric models.