Saudi Arabia Manufacturing PMI

Last Release

Jul 31, 2024

Actual

54.4

Units In

Points

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
61.8 Sep 2014	42.4 Mar 2020	56.29 Points	2011-2024	Markit Economics

In Saudi Arabia, the IHS Markit 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.

Latest Updates

Riyad Bank Saudi Arabia's PMI increased for the third consecutive month, reaching 56.9 in October 2024, up from 56.3 in September. This marks the fastest growth in the non-oil private sector since April, driven by a sharp rise in sales, which supported further expansion in business activity, employment, and stock levels. New orders saw their highest level since March, driven by strong domestic demand and effective marketing. Employment also rose for the sixth month in a row, keeping workloads manageable. Meanwhile, purchasing activity increased in October from September's three-year low, though at a slower pace compared to a year earlier, while inventories rose sharply as firms reported sufficient stock levels. On prices, input costs rose due to higher material and wage expenses, leading to the first increase in average prices charged in four months. Finally, business sentiment remained strong, bolstered by economic stability and ongoing infrastructure projects under Vision 2030.