Riyad Bank Saudi Arabia PMI increased to 59.8 in February 2023 from 58.2 in the previous month, pointing to the 30th straight month of increase in non-oil private sector, marking the highest print since March 2015, amid improving economic conditions, with output, employment and purchasing all rising at a faster pace. Also, input buying accelerated to the fastest pace for three months. Vendor performance improved solidly and at the strongest rate for three months. On prices, input price inflation picked up to the highest level since November last year, due to higher staff wages, while output price inflation accelerated markedly and was solid over all, due to an effort to pass rising expenses onto clients. Finally, sentiment strengthened to the second highest in two years on hopes of improving market conditions with the positive expectations towards the pickup in the emerging economies. source: Markit Economics

Manufacturing PMI in Saudi Arabia averaged 56.17 points from 2011 until 2023, 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 March 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.

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Saudi Arabia Non-Oil Private Sector PMI



Related Last Previous Unit Reference
Manufacturing PMI 59.80 58.20 points Feb 2023

Saudi Arabia Non-Oil Private Sector PMI
In Saudi Arabia, the seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index measures the performance of companies in non-oil private sector and is derived from a survey of 400 companies, including manufacturing, services, construction and retail. The Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the non-oil private sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
Actual Previous Highest Lowest Dates Unit Frequency
59.80 58.20 61.80 42.40 2011 - 2023 points Monthly
SA

News Stream
Saudi Non-Oil Private Sector Growth at Near 8-Year High
Riyad Bank Saudi Arabia PMI increased to 59.8 in February 2023 from 58.2 in the previous month, pointing to the 30th straight month of increase in non-oil private sector, marking the highest print since March 2015, amid improving economic conditions, with output, employment and purchasing all rising at a faster pace. Also, input buying accelerated to the fastest pace for three months. Vendor performance improved solidly and at the strongest rate for three months. On prices, input price inflation picked up to the highest level since November last year, due to higher staff wages, while output price inflation accelerated markedly and was solid over all, due to an effort to pass rising expenses onto clients. Finally, sentiment strengthened to the second highest in two years on hopes of improving market conditions with the positive expectations towards the pickup in the emerging economies.
2023-03-05
Saudi Arabia Non-Oil Private Sector Growth Quickens
Riyad Bank Saudi Arabia PMI rose to 58.2 in January 2023 from December's 3-month low of 56.9. This was the 29th straight month of increase in non-oil private sector, marking the second-highest print since September 2021 and confirming the Saudi position as the fastest-growing economy among the G20 countries, with output, new orders, and new export orders all rising at stronger paces. Also, input buying accelerated, amid efforts to build inventories in anticipation of future sales. Meantime, job creation slowed from December’s near 5-year high as backlogs of work fell for the eighth month. Vendor performance improved solidly as suppliers responded positively to requests for faster deliveries. On prices, input price inflation eased and was less marked than the series average, while output prices rose the least in near a year. Finally, sentiment hit it highest since January 2021, on expectations that demand growth will continue and that market conditions will shape up further.
2023-02-05
Saudi Non-Oil Private Sector Growth Weakest in 3 Months
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.
2023-01-03