The IHS Markit Saudi Arabia PMI increased to 44.4 in April 2020 from 42.4 in March. The latest survey data were collected between 7-22 April, reflecting a slower reduction in new work and a stronger contribution from the suppliers' delivery times component, amid measures at home and abroad to combat the COVID-19 pandemic. Output continued to decline, and lower volumes of activity were almost exclusively attributed to business closures and shrinking customer demand. Where growth was reported, survey respondents often cited rising spending on healthcare products and services. Meantime, new export orders and employment dropped at the fastest pace since the survey began in August 2009. Looking ahead, confidence strengthened slightly but still at a historically low level, mainly reflecting uncertainty about the length of worldwide lockdown measures.
Manufacturing PMI in Saudi Arabia averaged 56.53 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 May of 2020. source: Markit Economics
Manufacturing PMI in Saudi Arabia is expected to be 46.00 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 53.00 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.